The Calihan Academic Fellowships provide academic fellowships and research grants of up to $3,000 to advanced graduate students and seminarians who show outstanding potential in advancing understanding of the relationship between theology and the principles of the free and virtuous society. Such principles include recognition of human dignity, the importance of the rule of law, limited government, religious liberty, and freedom in economic life.

The Calihan Travel Grants provide travel grants of up to $3,000 to students who have been selected to present, at an academic conference, research that is relevant to the ideas promoted by the Acton Institute. Awards are also open to students who need to travel to, and perform research at, archives or libraries or to attend educational conferences that consider themes promoted by the Acton Institute.