To qualify for a scholarship award, applicants must be current students in good standing or incoming students at a law school in the state of Illinois or within the metropolitan areas of Milwaukee, Wisconsin, or St. Louis, Missouri. Candidates will be considered if they submit a completed application along with adequate documentation of their financial situation and degree of monetary assistance needed.

Following the terms establishing the scholarship, as set forth in Mr. Walker's will, preference is given to members of Masonic Lodge No. 1098 in Lombard, Illinois, their sons and daughters, former residents of the Masonic Children’s Home in La Grange, Illinois, and students who are Masons or who come from Masonic families.

Scholarships may be renewed each year until graduation, provided the scholar verifies a continued need for financial aid, good standing as a law student, and acceptable academic performance.