Check out the details about Public vs Private banks education loan 

Payment Period  Govt Banks: No such condition  Private Banks: Not before completing 6 months 

Interest Rate   Govt Banks: Any change in repo rate gets a  transfer to customer immediately  Private Banks: Change in repo rate does not decrease interest rate 

Prepayment Charges  Govt Banks: do not charge any levy  Private Banks: 2% of the remaining loan amount 

Processing Fee Govt Banks: 0.5%-1% of the total loan amount  Private Banks: 2% of the loan amount