Among them are scholarship programs such as Chapter 105 - Memphis - Les Segar Memorial Scholarship, Dr. Richard Forrest & Ella Dudney Kelsey Memorial Scholarship, Lincoln Scholarship, and O.O. Howard Scholarship. Notably, 94% of the students at Lincoln Memorial University get some kind of financial aid every year, and the total amount of assistance/loans provided adds up to around $12,415,425. The total percentage of candidates applying to Lincoln Memorial University who receive the Federal Grant is 34%. In comparison, 94% of the students are awarded the Student Grant, 74% get the Institution Grant, and 34% of the applicants receive the Pell Grant. Furthermore, the average aid for the Federal Grant receivers is $5,032, and the same stands at $5,027 for State Grant awardees and $16,051 for Institution Grant recipients. And, for the Pell Grant awardees, the average aid amount is $4,117. The annual family income of a candidate is one of the key factors in determining their total eligibility for financial aid. In addition to financial grants and scholarship schemes, students can also avail of monetary benefits like student loans to pay for their education. In contrast to grants and scholarships, student loans are taken by the candidates at a certain rate of interest. Candidates are also required to repay these loans within a given period. Every year, around 42% of the applicants to Lincoln Memorial University opt for student loans.