Beyoncé and Jay-Z Are Giving Away $1 Million in Scholarships

The Carters are doing more good to help kids get an education.
  • Beyoncé and Jay-Z are giving $100,000 scholarships to one student at each of their remaining “OTR II” tour stops.
  • From the students who qualify, recipients will be chosen by the Boys & Girls Clubs of America.
  • This is the third scholarship Beyoncé has hosted through her BeyGOOD initiative.

Happy birthday to Queen Bey, although she won’t be the only one celebrating a big moment.

Beyoncé’s birthday is Sept. 4, but instead of just receiving gifts, the mogul, whose net worth is about $450 million, is helping to give away over $1 million in scholarships to high school students through her BeyGOOD philanthropic initiative.   

One student from each of the cities remaining on Beyoncé and Jay-Z’s “OTR II” tour — Atlanta; Orlando, Fla.; Miami; Arlington, Texas; New Orleans; Houston; Phoenix; Los Angeles; San Diego; Santa Clara, Calif., and Seattle — will win the gift of a lifetime: $100,000.

Click to read more about how to apply for scholarships.

In partnership with the Boys & Girls Clubs of America and husband Jay-Z’s Shawn Carter Foundation, scholarship recipients will win $100,000 to put toward their college education for the upcoming school year. In total, the scholarships will add up to over $1 million.

Read: 9 Creative Ways to Pay for College

The recipients of the scholarships will be chosen by the Boys & Girls Clubs of America, based on the students being exceptional seniors in high school with financial needs. Some of the recipients have already been announced.

The Carters have a long history of sharing their wealth, especially for educational and academic pursuits. This marks the third scholarship hosted by BeyGOOD. In April, the singer and actress announced that she would be giving $25,000 to one student for the 2018-19 academic year who had a 3.5 GPA or above at each of the following eight historically black colleges and universities: Xavier University, Wilberforce University, Tuskegee University, Bethune-Cookman University, Texas Southern University, Fisk University, Morehouse College and Grambling State University. The scholarship, which Beyoncé created through her Homecoming Scholars Award Program, was also matched by Google.  

Related: Best College in Every State That Costs Less Than $20,000 a Year

And back in 2017, BeyGOOD announced the launch of Formation Scholars awards. The scholarship awarded four females “who are unafraid to think outside the box and are bold, creative, conscious and confident” and attended Berklee College of Music, Howard University, Parsons School of Design and Spelman College.

According to the Federal Reserve Bank of New York, student loan debt totaled $1.38 trillion at the end of 2017, making scholarships and grants not just a welcomed bonus but a necessity for many. With rising college tuition costs, the average student loan debt is $28,446 per graduate, with 58 percent of students holding college debt.

Click through to read more about whether or not you make enough money to put your kid through college.

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