Spin transfer torque memory (STTM) devices incorporating a field plate for application of an electric field to reduce a critical current required for transfer torque induced magnetization switching. Embodiments utilize not only current-induced magnetic filed or spin transfer torque, but also electric field induced manipulation of magnetic dipole orientation to set states in a magnetic device element (e.g., to write to a memory element). An electric field generated by a voltage differential between an MTJ electrode and the field plate applies an electric field to a free magnetic layer of a magnetic tunneling junction (MTJ) to modulate one or more magnetic properties over at least a portion of the free magnetic layer.