The Academy of Medicine Education Foundation (AMEF) awards scholarships each year graduating medical students (MD / DO) who are, or were, residents of Northeast Ohio, and who have demonstrated an interest in being involved in organized medicine and community activities. Applicants must also possess leadership skills and demonstrate academic achievement. AMEF scholarships will be awarded to graduating medical students attending the following: Case Western Reserve University School of Medicine, Cleveland Clinic Lerner College of Medicine of CWRU, Northeast Ohio Medical University, or Ohio University College of Medicine.

The 2024 AMEF Scholarship was the largest gift in the AMCNO's history, with $200,000 awarded to 20 graduating medical students in honor of the Bicentennial year. This gift was made possible with support from the NOMS Foundation, the Mt. Sinai Foundation, Marymount Hospital Medical Staff, Hillcrest Hospital Medical Staff, Dr. Richard Fratianne, the Eisman Family Scholarship Fund, the St. Luke's St. Vincent's Medical Staff Foundation, University Hospitals, and the AMCNO Past Presidents' Club.