Published July 14, 2025
LeMoyne-Owen College is proud to announce the launch of the Magician Advantage Loan Repayment Assistance Program (LRAP), a bold new initiative that invests in students and strengthens the Memphis community.
Starting with the 2025-26 academic year, all admitted, incoming freshmen with a 2.5 GPA or higher will be eligible for the program. The Magician Advantage provides students and families with a financial safety net after graduation by helping repay up to $80,000 in federal student, private alternative, and parent PLUS loans, if graduates earn $45,000 or less annually.
“This program is about more than just student loans,” said Dr. Christopher B. Davis, president of LeMoyne-Owen College. “It’s about removing barriers, so students can receive an excellent education at LeMoyne-Owen College, follow their passion, and shape the future of Memphis without fear of debt holding them back. It’s not just an investment in individuals; it’s an investment in our city.” This historic initiative makes LeMoyne-Owen College the only college in Tennessee to offer LRAPs to all eligible incoming freshmen, and becomes the second HBCU and one of four colleges in the state to offer an LRAP.
While open to all qualifying students, the program is especially impactful for those pursuing careers in public service, such as education, social work, and ministry. These professions are vital to Memphis’ future, but often come with lower starting pay. By easing loan repayment stress, the Magician Advantage helps more students enter these professions and addresses pressing workforce challenges, including Tennessee’s teacher shortage.
As Memphis’ first HBCU, LeMoyne-Owen College is deeply rooted in the city it serves. Eighty-nine percent of graduates stay in Memphis, contributing to the city’s future in education, health care, business, and civic leadership.
“When we invest in our students, we invest in Memphis,” said President Davis. “At LeMoyne-Owen College, we believe no student should have to choose between their dream career and their financial future. The Magician Advantage empowers our students to pursue their calling, knowing they’ll have help with loan repayment if their income is modest. It’s a safety net, but it’s also a launchpad.”
Students interested in the Magician Advantage can visit the program’s webpage to learn more and accept their award.
Community members who would like to support this new initiative can contribute here to the college’s National Annual Fund by including “Magician Advantage” in the comment section with your gift.