Lady Shri Ram College offers a large number of free scholarships and scholarships are awarded to students every year to ensure that each student who requires financial assistance is provided with the same. Most scholarships are merit cum need based, and the criteria of parental income are kept in mind while deciding eligibility. Some of the scholarships given in college are listed as follows:
- G.L. Bansal Scholarship: awarded to one or two students in the second year who have obtained good scores in the University examinations and have also been active participants in college activities.
- The Morada and Yashoda Chetna Scholarships: These scholarships are meant for visually challenged students of any year. Two or three such scholarships are awarded each year.
- The ELSA Scholarships: These are three to four scholarships given to meritorious students who have done well in their first year University examinations and come from very disadvantaged backgrounds.
- Sh. Onkar Nath Pandit Scholarships: It ismainly given to final-year students who have been among the top-ranking students in their course.
- Shri Hari Dayal Walia Scholarship: mainly given to final year students who have been among the top-ranking students in their course.
- Tejaswi Rao Scholarship: a scholarship instituted in memory of Ms. Rao and is meant for a student from the Journalism department. The scholarship pays the entire fees for the course.
- Neha Puri Scholarships: These scholarships were established in memory of Ms. Puri and are intended for students from the Political Science department. Two scholarships are awarded, covering the entire course fees.
- Shri Manohar Shyam Joshi Scholarships: These are available to students of the Hindi and Journalism Departments. Usually, two scholarships are given.
- Shikha Chhabra Scholarship: a scholarship instituted in memory of a former student of the Economics department, and is usually awarded to a student from that department.
- Dr Sheila Grover Memorial Scholarship: a scholarship given to a deserving student, preferably of the Hindi department.
- Chhotu Ram Rathee Memorial Scholarship: a scholarship given to a deserving student, preferably of the Economics department.
- Hallac Blackrock Scholarship: a merit cum needs scholarship for students of the Statistics/Mathematics Department.
- Tazim Imam Scholarship: a scholarship for a truly deserving and meritorious student of the final year.