NMF provides financial assistance to United States citizens from groups currently underrepresetned in the medical profession; specifically, African-Americans, Mexican-Americans, Native Americans, Alaska Natives, Native Hawaiians, and mainland Puerto Ricans who permanently reside within the 50 U.S. states. Applicants must be U.S. citizens by the application deadline. Applicants born outside of the U.S., or whose parents were born outside the U.S. must submit proof of citizenship.

Applicants must have been accepted to AAMC or AOA-accredited U.S. medical schools for study leading to M.D. or D.O. degrees.

These awards are offered to first- and second-year medical students.