as such i am reading your story i found that this perticular education loan has been taken by your parents but now you are able to pay or have become earned person hence you can ask your bank to put all the burdon of loan on you and you can do this according to respected G.L.N. Prasad and for this you have give them promisary note which should clearly states what you wanted to say or willing to do. and you should consult with bank legal department before doing this 2nd and you can also ask for removal of your parents out of this
1st and very imporatant thing what is the rate of interest bank is charging you
2nd what is your loan monthly payment ammount kindly do notify us in your next replay
3rd be ready with promissory note
4th I think you are not paying the loan amount monthly payment this is the single reason they are deducting your parents pension
it is the only way you can remove your parents out of this
If this is not happening just follow this:
change all account and create on joint account in bank only for loan repayment purpose and with the authorization just put the amount in that perticular bank account so that your parents can be saved out of this ..