On Tuesday, Beyoncé announced the establishment of Formation Scholars, a program to grant four deserving women college scholarships. The announcement is part of the one-year anniversary and celebration of her latest album, “Lemonade.” The awards, set for the 2017-2018 academic year, are meant to “encourage and support young women who are unafraid to think outside the box and are bold, creative, conscious and confident,” read a statement on Beyonce's website. Four scholarships, one per college, will be given to an incoming, current or graduate student pursuing studies in creative arts, music, literature or African-American studies at Berklee College of Music, Parsons School of Design, Howard University and Spelman College. It’s unclear how much the scholarship awards are worth.