STLE grants three academic awards through its Presidential Awards Program: The E. Richard Booser Scholarship (for undergraduate students), The Elmer E. Klaus Fellowship (for graduate students) and The Jeanie S. McCoy Scholarship (for female students). These awards are administered by the STLE Presidential Council and are meant to encourage students to pursue an advanced degree or a career in tribology or lubrication engineering by subsidizing a research project related to the field.