It's been a year since Beyoncé dropped her widely acclaimed project, Lemonade and to celebrate its anniversary, she's announced the establishment of the Formation Scholars Awards.

The scholarship was formed to support young women who are "unafraid to think outside the box, bold, creative, conscious, and confident.” The initiative is in conjunction with her Parkwood management company.

Applications are open now, and four women will be awarded scholarships for the 2017-2018 academic year. Students at Howard University, Spelman College, Berklee College of Music, and Parsons School of Design are eligible with applicants required to be incoming, current, or graduates studying creative arts, music, literature or African-American Studies.