Apply Now for an ASME Student Loan

Mar 12, 2014

ASME offers low-interest student loans to eligible members in the United States, Canada and Mexico. Funds are still available for spring 2014 at a fixed rate of 2.86 percent — 1 percent below the federal Stafford Loan rate.

Each year, the ASME Student Loan fund provides more than $200,000 in low interest loans to more than 3,000 ASME student members. To date, the fund has provided student members with more than $1.5 million in assistance. ASME Student Loans are made possible through the generous support of the ASME Foundation.

To be considered for a loan, a student must: be an ASME student member in good standing; be enrolled in full-time academic studies in the United States, Canada, or Mexico, making satisfactory progress in his or her degree program in mechanical engineering, mechanical engineering technology, or related program; have demonstrated financial need; and have a minimum cumulative grade point average (GPA) of 2.2 on 4-point scale (undergraduate students) or 3.20 on a 4-point scale (graduate students).

Additional details about the ASME Student Loan program, criteria and application requirements, and an application form can be found on at Deadlines posted on the website are suggested target dates, so students should feel free to apply any time of the year. 

Contact Beth Lefever by e-mail at with any questions about ASME Foundation Scholarships and ASME Student Loans.