I just consolidated 40K in student loans. I just received word that the money for the loans was disbursed ( I had eight loans). Does any one have any idea what this will do to my score? I consolidated at a great interest rate, 2.875 and after 36 consecutive payments a 1% reduction in interest.

Probably nothing, really.

I consolidated 7 loans and there was no change in score. Just reported old loans as paid and new ones appeared.

The small boost you will get from having less accounts with balances will probably be offset by the new account reporting as well as the shorter avg age of accounts...