Since 1987, the Gamma Gamma Lambda chapter has coordinated and given the Luke H. Chatman Memorial Scholarship which last year gave three $4,000.00 scholarship ($1,000 for four years) and has given more than $94,000 in scholarships to worthy local high school students.

In 2022, the chapter changed the scholarship award to one $4,000.00 scholarship, $1,000 per year for four years. This new direction is a new effort to encourage them throughout their college career. Funding for the scholarship is collected from the proceeds of the Martin Luther King, Jr. Scholarship Gala. Gamma Gamma Lambda Chapter has also changed the primary focus of the scholarship to prefer African-American Males.

These scholarships are based on the whole person concept, which encompasses academic achievement, leadership, citizenship, athletics, and service to the community. Also, an applicant's financial need will be considered in the selection of scholarships. As stated in 2004, the scholarship application requires two letters of reference from the community.