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The Hugh Ellis Walker Alumni Scholarship is a one-time scholarship given to incoming freshmen or transfer students whose parent(s) are either life members or three-consecutive-year annual dues paying members. Incoming freshmen have top priority. The student must have a 3.0 GPA or greater to be considered for this prestigious scholarship. Walker served as the Alumni Secretary from 1969-1987. In 1987 he was named executive director of the Alumni-Foundation. The Hugh Ellis Walker Alumni-Foundation House was dedicated in his honor in 1996, and he was inducted into the Alumni Hall of Fame in 2011. Walker was named Outstanding Alumnus of the Year in 2013.

The Golden Anniversary Scholarship will financially assist students who are currently in their final semester of their degree program and who no longer qualify for Federal financial aid.  The scholarship fund was established by the prestigious Golden Circle Group, which is made up of all fifty year graduates of Delta State University.  The Golden Circle is supported by the Delta State University National Alumni Association.