If the loan sanction letter from the bank includes this information that a third party's FD has been mortgaged for the Education loan then it would definitely impact your VISA application.
If you can try get the FD transferred (considering your friend agrees to it) to your name or may be to your brother/sister's name or parents name in India..then there is nothing like it...
There is no question for Public sectors banks (India) to even entertain application seeking loan against other's FD. It’s more like a criminal forgery.