A large number of freeships as well as scholarships are awarded to students at LSR every year. Interviews are held to ensure that the money is disbursed to candidates genuinely in need of financial aid.
Students who meet certain criteria of academic merit are awarded scholarships. The scholarships given to students include the Ward Welfare scholarship, KPMG Scholarship, G.L. Bansal Scholarship, ELSA Scholarship, Shri Onkar Nath Pandit Scholarship and Shri Manohar Shyam Joshi Scholarship among several others. The remaining students are awarded freeships.