Among them are scholarship programs such as Chapter 105 - Memphis - Les Segar Memorial Scholarship, Dr. Richard Forrest & Ella Dudney Kelsey Memorial Scholarship, Tennessee HOPE Scholarship, and Tennessee Student Assistance Award. It is interesting to note that almost every student at TCATM receives some kind of financial aid. At TCATM, the total percentage of applicants who receive the Federal Grant stands at 81%. On the other hand, 100% of the candidates get the Student Grant, while 80% receive the Pell Grant. On the other hand, the average aid received by the Pell Grant awardees is $5,531. 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. But, they should understand that student loans are borrowed at a certain rate of interest, unlike grants and scholarships. While grants and scholarship schemes do not require repayment, student loans should be repaid by the applicants within a given period.