Get merit aid10%First-year students, CDS 2023-2024
Last verifiedJul 2026Analyst COWORK
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The merit-aid verdict at University of Memphis
Memphis runs a clean GPA+test merit grid off the admission application ($2,500-$7,000/yr in-state, up to $14,000/yr out-of-state, $15,000/yr for National Merit Finalists) — but a student may hold only ONE freshman scholarship (Valedictorian excepted), and renewal requires service hours, not just grades.
Common merit-aid mistakes at University of Memphis
Award Limitations: 'Students may receive one first-time freshman scholarship' — only the $1,000/yr Valedictorian Scholarship can stack on top of another award.
Renewal is not GPA-only: 'Completion of required service hours is also necessary for scholarship renewal,' and the Honors College page notes Dean's, Provost and Presidential awards 'require a service obligation to the institution of 25-50 hours per academic year.'
'For priority consideration, freshmen students should apply to the University of Memphis by Dec. 1' — the admission application IS the scholarship application for the merit grid.
Emerging Leaders ($5,500/yr) and First Scholars ($5,000/yr) require separate applications due Feb. 1 — they are not awarded from the admission application; both are Central-campus-only, and Emerging Leaders requires on-campus housing freshman year.
Recipients 'must enroll in a minimum of 12 credit hours per semester and maintain good academic standing'; awards run fall/spring only and renew for at most three additional years.
'All scholarships are awarded for the academic year (fall and spring semesters only)' and renew 'for up to three (3) additional years' — eight semesters maximum, no summer disbursement.
HOPE (up to $2,250/semester early years, plus Aspire/Merit supplements) requires completing the FAFSA as specified by TSAC — and HOPE stacks with a UofM merit award, so missing it leaves state money on the table.
'Updated GPA and test scores may be submitted through March 1' — superscores count, but only if they arrive by the cutoff.
Who this school is for
Freshmen with a 3.25+ GPA and ACT 22+ (or a 3.80+ GPA with no test score for the Trustee Award) who apply by December 1; out-of-state students get roughly double the in-state dollar amounts; National Merit Finalists/Semi-Finalists earn $15,000/yr either way.
Tuition / cost of attendance: Approximately $30,536 for 2025-2026. Source
Federal cost and outcome data
Federal reporting on who actually enrolls at University of Memphis, what they paid after aid, and what happened next — independent of anything the school markets.
Average annual net price by family income at University of Memphis, academic year 2021-22 — in-state, Title-IV aid recipients only
Family income
Average net price paid
$0–$30,000
$10,607
$30,001–$48,000
$10,968
$48,001–$75,000
$13,923
$75,001–$110,000
$17,384
$110,001+
$18,691
All income levels (average)
$12,397
Sticker price vs. what students actually pay
Published tuition & fees (in-state), AY 2022-23
$10,728
Published tuition & fees (out-of-state), AY 2022-23
$15,384
Average net price paid (all Title-IV aid), AY 2021-22
$12,397
That works out to roughly a 51% discount below the federal AY 2021-22 average cost of attendance of $25,169 (College Scorecard — a separate, federally reported figure, not the published cost of attendance shown above).
University of Memphis is a public school; Scorecard's net price figure covers in-state, Title-IV-aid-recipient payers only — there is no comparable federal figure for out-of-state students.
Outcomes for students who enrolled here
Graduation rate (150% of normal time), 2016 cohort
51%
First-year retention rate, 2021 cohort
77%
Median debt at completion, 2020–2021 completers
$23,300 (~$247/mo on a 10-yr plan)
Median earnings, 10 years after entry (measured 2020-21)
$48,458
Share of students receiving a Pell grant, AY 2021-22
64%
Share of students receiving a federal loan, AY 2021-22
47%
Institutional merit aid tiers
Every tier below is sourced to the school’s own published financial aid pages. Renewal terms apply only if the student maintains the stated GPA.
$2,500-$7,000 per year…$2,500-$7,000 per year ($10,000-$28,000 total)
Awarded based on information submitted on the UofM admissions application; priority application by Dec. 1; updated GPA and test scores accepted through March 1; superscores considered
Renewal terms
Academic scholarships are renewable for up to three (3) additional years; disbursed fall and spring only; recipients must enroll in a minimum of 12 credit hours per semester and maintain good academic standing; completion of required service hours is also necessary for scholarship renewal.
Notes
No separate scholarship application, but the page says the university 'selectively awards scholarships each year' — not marked automatic. Two pathways: GPA + test, or GPA-only for certain awards (Trustee).
Separate application in Tiger Scholarship Manager due Feb. 1; limited number selected; on-campus housing required during freshman year; Memphis (Central) Campus only
Renewal terms
Recipients must maintain a minimum 3.00 cumulative GPA, acquire and maintain involvement in at least one campus-affiliated entity, complete ten community service hours each semester, and submit reflections for co-curricular experiences each semester.
Incoming freshmen whose parents did not graduate from college (first-generation); separate online application due Feb. 1; Memphis (Central) Campus only; optional on-campus housing freshman year
Renewal terms
Renewable for a total award of $20,000 over four years; ongoing criteria not detailed on the page opened.
3.0 unweighted high school GPA (alternative to test score)
SAT
1060 (alternative to GPA)
ACT
21 (alternative to GPA)
Requirements & details+
Eligibility
Tennessee resident for at least one year prior to high school graduation; graduate from an eligible high school; FAFSA required; homeschool students have additional dual-enrollment pathways
Renewal terms
Administered under Tennessee Student Assistance Corporation (TSAC) rules; FAFSA required as specified by TSAC.
Notes
Supplements: HOPE Aspire +$750/semester (household AGI $36,000 or less); HOPE Merit +$500/semester (29 ACT and 3.75 final unweighted GPA). Amounts prorate at 6-8 and 9-11 credit hours. TN residents may stack HOPE/TSAC awards with a UofM freshman scholarship.
Outside scholarships reduce loans and/or work-study first; institutional grants are only reduced if required to prevent an over-award.
Verified policy language (2026-07-02): If the UofM has met 100% of your demonstrated need and subsequently you receive an outside scholarship, one or more of your financial aid sources may need to be adjusted as required by law. Loan assistance is adjusted first, whenever possible. Separately, the school's own award-stacking rules: One first-time freshman scholarship per student — except the Valedictorian Scholarship, which can stack on top. (per https://www.memphis.edu/scholarships/ftf/)
From the University of Memphis Common Data Set 2023-2024:
Merit penetrationHow likely is merit aid here?From University of Memphis’s Common Data Set: the share of first-year students who receive institutional merit and the average dollar amount when they do.
10%of admitsget merit
Average award$4,461Covers ~15% of $30,536 cost of attendance
At University of Memphis, roughly 1 in 10 first-year admits receive institutional merit aid. The average award is $4,461 — about 15% of total cost.
As filed in University of Memphis's CDS Section H2A: of 2,535 first-time, full-time degree-seeking freshmen, 266 had no financial need and received institutional merit (non-need) scholarship or grant aid, averaging $4,461. Across all full-time degree-seeking undergraduates: 1,156 of 11,221, averaging $4,448. Athletic awards are excluded per the CDS definition.
Lesser-known scholarships at University of Memphis
Named awards that don’t always surface on the main financial aid page. Each one has its own eligibility rules.
AmountAmount not publishedEligibilityContinuing Honors College members in Good Standing for 1+ year; at least one Honors course in the past year; minimum 3.0 cumulative GPA; resume; preference to high merit + demonstrated need via FAFSA; deadline February 1, 2026
One-time, NONRENEWABLE award — not a four-year commitment.
AmountAmount not publishedEligibilityFull-time Honors members (sophomore-senior) majoring in Biological Sciences, Chemistry, Physics, Mathematics, Earth Sciences or Biomedical Engineering; 3.25+ cumulative GPA; community/university service; two faculty recommendations; deadline February 1, 2026
Only ONE award available per academic year; can fund a year of study, study abroad, or an international internship.
AmountVaries by external programEligibilityHonors College assists well-qualified students; successful applicants generally have a 3.7+ GPA plus leadership or research
Apply for admission by December 1 for priority scholarship consideration; the admission application is the merit application. Updated GPA/test scores are accepted through March 1. Separate applications for Emerging Leaders and First Scholars are due February 1, and the Honors College and Perryman scholarships are due February 1, 2026.
Is there a test-optional merit award?
Yes — the Trustee Award ($2,500/yr in-state; $5,000/yr out-of-state) is GPA-only at 3.80+, and the university offers a 'GPA-Only Evaluation' pathway for certain scholarships.
How much more do out-of-state students get?
Roughly double: e.g., the Cecil C. Humphreys Presidential is $7,000/yr in-state vs $14,000/yr out-of-state; National Merit Finalists/Semi-Finalists get $15,000/yr in both cases.
Can I stack my UofM scholarship with the Tennessee HOPE?
Yes — 'Tennessee residents may stack Memphis Promise and additional awards from the Tennessee Student Assistance Corporation (TSAC) if eligible and awarded.'
What does renewal require?
Minimum 12 credit hours per semester, good academic standing, and completion of required service hours; scholarships renew for up to three additional years (fall/spring only). Emerging Leaders adds a 3.00 GPA, campus involvement, ten service hours per semester, and reflections.
What is the cost of attendance?
Published 2025-2026 figures (the most recent on the COA page): in-state undergraduate on-campus total $30,536; out-of-state $35,240 (based on 12 hours). 2026-27 figures were not yet posted.
How University of Memphis compares across our verified dataset
147 of 750 verified schools in our dataset use loan-first displacement.
University of Memphis is in a recognizable cluster (147 schools share this category). That framing matters when comparing peer schools that may publish the policy differently or not at all.
668 of 750 verified schools publish at least one four-year renewable merit award.
University of Memphis is one of them. The cohort minority (82 schools) only awards one-year scholarships, which means the four-year value families assume on a brochure quote isn't guaranteed at every school.
132 of 750 verified schools publish a dedicated National Merit Finalist package.
University of Memphis is one of them. NMF packages typically carry their own stacking and renewal carve-outs separate from the standard automatic merit ladder; confirm those before assuming the headline NMF value is final.
Sources used on this page
Every claim is checked against University of Memphis’s own published materials. Below is the full reference set.
