Students can avail of scholarships provided by the university, such as Chapter 105 - Memphis - Les Segar Memorial Scholarship, Dr. Richard Forrest & Ella Dudney Kelsey Memorial Scholarship, Ernest L. Stockton Jr. Grant, and Leadership Scholarship, if they find educational expenses to be on the higher side. Notably, almost all of the university students get some kind of financial aid every year, and the total amount of assistance/loans provided adds up to around $5,010,514. The total percentage of candidates applying to Cumberland University who receive the Federal Grant is 42%. On the other hand, 100% of the candidates get the Student Grant, 31% receive the Institution Grant, and 42% get the Pell Grant. Moreover, the average aid amount for Federal Grant awardees stands at $4,541, while the same comes to $4,780 for State Grant receivers and $13,895 for Institution Grant awardees. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $4,482. The annual family income of the applicants is also considered for determining the total financial assistance that they will be eligible for. Alternatively, the candidates can also avail of monetary benefits like student loans, apart from financial grants and scholarship schemes to pay for their studies. However, student loans attract a certain rate of interest at which the funds are borrowed. Moreover, the funds received through these loans will have to be repaid within a given timeframe. Every year, around 27% of the applicants to Cumberland University opt for student loans.