First and foremost, do not listen to your friend who appears to be a wilful defaulter and wishes to dupe the bank. An institution which had helped in time of need should be treated with some respect it deserves.
Your Educational Loan must have been given jointly with your parent ie. Father or Mother. Therefore, all the details of yourself, your family must be with the Bank. Of course, only if you have provided correct details.
Even when your loan per-se was given as unsecured loan, Bank if they decide can proceed against your and your family's movable and immovable assets. Therefore, do not be under some impression that bank cannot do anything.
Therefore, approach the Bank Officials with your Parent and discuss the issue thoroughly and try to pay the dues as early as possible. Please remember unless existing borrowers repay, bank shall not be able to give loans to other students in need of loan.