NLIU Bhopal provides two Merit Cum Means Scholarships for outstanding students. These scholarships cover the full tuition fees for the entire course duration. Students who achieve the highest marks in NLIU are awarded First Year Tuition Fee waivers. From the second to the fifth year, the university grants scholarships based on students' performance in the NLIU Semester Exams. Additionally, the university takes into account the family income of the students; the annual family income must not surpass the prescribed amount as determined by NLIU Bhopal periodically.