With the exception of the Rice-Cullimore grants, the following scholarships and loans shall be made to citizens of the United States who are students of Mechanical Engineering, enrolled in schools having accredited Mechanical Engineering Departments. Loans up to $3000 at 6% interest are available to undergraduate and graduate students. All recipients must hold some grade of membership in ASME International.

It is the policy of the Auxiliary that no one student be awarded more than one scholarship or loan from the Auxiliary in the same academic year.