Among them are scholarship programs such as Allen Jones/Marjorie Barringer/BarKays Scholarship Fund, Chapter 105 - Memphis - Les Segar Memorial Scholarship, Dr. Richard Forrest & Ella Dudney Kelsey Memorial Scholarship, and Tennessee HOPE Scholarship. As many as 98% of the students at LMOC get some sort of financial aid, and the total amount of assistance/loans provided is more than $6,597,600 in a year. Notably, a total of 92% of the applicants to Le Moyne-Owen College receive the Federal Grant every year. Meanwhile, 95% of the applicants receive the Student Grant and 21% are awarded the Institution Grant, while 91% of the students get the Pell Grant. Furthermore, the average aid for the Federal Grant receivers is $6,582, and the same stands at $4,691 for State Grant awardees and $4,919 for Institution Grant recipients. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $5,459. 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. In contrast to grants and scholarships, student loans are taken by the candidates at a certain rate of interest. Moreover, the funds received through these loans will have to be repaid within a given timeframe. At Le Moyne-Owen College, the percentage of candidates who opt to avail of student loans is around 80%.