The Association awards Fellowships each year at the graduate (Masters, PhD or post-doctoral) level of up to AU$40,000 for US scholars undertaking advanced research or study in Australia. Fellowships are available for Americans who will benefit from doing research or study in the fields of life sciences, medicine, engineering or mining. There is particular interest in the fields of oceanography/marine sciences & stem cell research.. The AAA Australia also awards fellowships to Australians for advanced study in the US.

There are two scholarship application rounds offered each year (one in each direction):

Australia to USA: Open for application on January 1 to March 31.
USA to Australia: Open for application on August 1 to September 30.