know about education loan settlement

Dear Sir,

This is not a forum for problem saving. It is a forum where you can get clarification on legal points. In your case, what is the legal point? You have taken loan and not paid, whatever may be the reason and you got a notice. It is a matter between you and the Bank. I advice you to go to the bank and explain your present position and seek some more time.

What are you exactly seeking as guidance from the forum ?

You have taken a loan.  Bank has given the loan from from funds collected by general public as deposits, and they have to refund those deposits on demand ?

Bank has never given their own funds ?

A borrower should consider pros and cons before availing the loan, and the first question for undertaking any task is "What alternative if things go wrong and not in planned manner ?

Because of Bank, you get a good educational qualification .  Now what you want to do is left to your individual decision.

Remember once your name is included in list of defaulters, you can never get single rupee from any financial institutions,

and Bank is not going to certainly keep quiet and they have their own process of recovery.

Decision is yours.

Janab,

Think for a minute.

Who can provide a solution to your problem ?

Definitely not members in the forum.  Contact and request Banker, as this is the one and only way, send representation to his higher authorities.