Students may apply for and receive more than one ASME loan over a period of time. The total borrowed shall not exceed an amount set by the Board of Directors, ASME Center for Education.

The total amount borrowed cannot exceed three times the maximum amount allowable for any one cycle. (Current maximum is $3,000 per academic year; or $9,000 total per undergraduate borrower.  An additional $3,000 is available for qualified, full-time graduate students.)