Apply Now for an ASME Student Loan

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 ASME.org at http://go.asme.org/loans. 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 lefeverb@asme.org with any questions about ASME Foundation Scholarships and ASME Student Loans.