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Delhi's AAP government on Wednesday launched its flagship scheme which allows students to avail education loans of up to Rs 10 lakh.

Education Minster Manish Sisodia kick-started the scheme by distributing cheques to the first 25 beneficiaries of the scheme.

"The government is with the students whose parents don't have property as a guarantee to avail loan for their education,"Sisodia said at the launch of the scheme.

"We will take their guarantee and give them a chance to study and not let finance become a hurdle in their education," Sisodia added.

Students who have passed 10+2 examinations will be eligible for the loan for pursuing higher studies.

The students will get a one-year moratorium after completion of his or her degree or diploma course and can repay the loan through EMIs over15 years.