Among them are scholarship programs such as Academic Scholarship, Chapter 105 - Memphis - Les Segar Memorial Scholarship, Dr. Richard Forrest & Ella Dudney Kelsey Memorial Scholarship, and Tennessee HOPE Scholarship. Notably, 99% of the students at Freed-Hardeman University get some kind of financial aid every year, and the total amount of assistance/loans provided adds up to around $4,697,675. At FHU, the total percentage of applicants who receive the Federal Grant stands at 42%. In comparison, 99% of the students are awarded the Student Grant, 99% get the Institution Grant, and 30% of the applicants receive the Pell Grant. Furthermore, the average aid for the Federal Grant receivers is $4,360, and the same stands at $4,511 for State Grant awardees and $13,475 for Institution Grant recipients. And, for the Pell Grant awardees, the average aid amount is $4,299. The annual family income of the applicants is also considered for determining the total financial assistance that they will be eligible for. In addition to financial grants and scholarship schemes, students can also avail of monetary benefits like student loans to pay for their education. But, they should understand that student loans are borrowed at a certain rate of interest, unlike grants and scholarships. Moreover, the funds received through these loans will have to be repaid within a given timeframe. At FHU, an estimated number of 55% of the applicants choose to go for student loans.