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Here's how you can go to college on Beyoncé's dime

Beyoncé wants to help you pay your college "bills, bills, bills."

To mark the one-year anniversary of her Peabody-Award-winning album "Lemonade," the performer has launched the Formation Scholarship program. In a post published on her website Tuesday, Beyoncé announced her plan to "encourage and support young women who are unafraid to think outside the box."

The program will provide awards to four female students studying creative arts, music, literature or African-American studies. The Formation Scholars must be incoming or current undergraduate or graduate students during the 2017-2018 academic year and encouraged to seek details and deadlines from colleges participating in the program.

Beyoncé described these scholars as "bold, creative, conscious and confident."

Beyonce performing her song 'Formation' during the Pepsi Super Bowl 50 Halftime Show.
Thearon W. Henderson | Getty Images
Beyonce performing her song 'Formation' during the Pepsi Super Bowl 50 Halftime Show.

The four colleges selected to participate in the program are Berklee College of Music, Howard University, Parsons School of Design and Spelman College. The list includes the two most prestigious historically black institutions in the United States: Howard University and Spelman College, the latter of which is also the oldest historically black college for women in America.

Beyoncé's choice to support young women's education is fitting, given "Lemonade's" empowering messages for women, and especially women of color.

And the superstar is in good company. Many other celebrities choose to give back by awarding college scholarships.

Beyonce and Jay Z during The 59th GRAMMY Awards
Kevin Mazur | Getty Images
Beyonce and Jay Z during The 59th GRAMMY Awards

In fact, Beyoncé's husband Shawn Carter, also known as Jay Z, created the Shawn Carter Scholarship Fund in 2003. The scholarship offers grants typically between $1,500 and $2,500 for students with a 2.0 GPA or higher to attend any accredited academic institution.

Through the LeBron James Family Foundation, basketball legend LeBron James helps pay for over 1,000 students to attend the University of Akron.

Janet Jackson, David Letterman, Kevin Spacey, Alec Baldwin and Derek Jeter also endow scholarships that help students fund their college educations.

Additionally, Beyoncé and Jay Z have both supported politicians who advocate for affordable education programs similar to those available in San Francisco and New York.

You can read Beyoncé's full statement below: