In pursuit of its mission to increase the number of Tennesseans with a postsecondary credential, the Tennessee Higher Education Commission (THEC) and Tennessee Student Assistance Corporation (TSAC) have implemented various programs and initiatives to encourage Tennesseans to engage with higher education and support students through completion. Among the most prominent and highly publicized of these programs (and the focus of this report) is the Tennessee Promise, signed into law by the Tennessee General Assembly in 2014. Over 126,000 Tennessee Promise students have received $207 million in scholarships to alleviate tuition and fees since the program's inception. The sections in this annual report provide the following: (1) an overview of the Tennessee Promise Scholarship program; (2) descriptive characteristics for Tennessee Promise applicants through eight cohorts; (3) descriptive characteristics for students who enrolled with Tennessee Promise; (4) examination of the outcomes of Tennessee Promise students, including credit accumulation, degree completion, and transfer; and (5) information about program finances, including the total annual cost of the program and the average cost per student. This report details the experiences of Tennessee Promise students from the program's inaugural 2015-16 cohort through the 2022-23 cohort. Students in the most recent Tennessee Promise cohort (those enrolling at postsecondary institutions in fall 2022) are the primary focus of the analyses presented in this report, but year-over-year changes and longer-term trends are also presented throughout.