Jay-Z and Beyonce are giving back again via their philanthropic initiatives—BeyGOOD and the Shawn Carter Foundation. They are partnering with Tiffany and Co. to launch a new scholarship for students attending Historically Black Colleges and Universities (HBCUs).
The scholarship program, called ABOUT LOVE scholarship, will distribute $2 million in funding to support students in five HBCUs. They are Lincoln University in Pennsylvania, which was attended by Ghana’s first president Kwame Nkrumah; Norfolk State University in Virginia; Bennett College in North Carolina; the University of Arkansas at Pine Bluff; and Central State University in Ohio.
“We would like to thank the Shawn Carter Foundation, BeyGOOD, The Carters and the Tiffany & Co. family for including Lincoln University in this amazing gift,” said Dr Brenda A. Allen, President, Lincoln University.
“Over the years, we have developed a wonderful partnership being a part of The Shawn Carter Foundation HBCU Bus Tour. Lincoln has placed a high priority on supporting the arts and humanities on our campus. Providing financial support for students pursuing these majors enhances their ability to more fully engage their studies.”
The scholarship funding comes after the Carters featured in Tiffany’s “About Love” ad Campaign which showed Beyonce wearing a 128.54-carat diamond by Tiffany. The stone was last seen worn by Lady Gaga at the 2019 Academy Awards.
“We are only as strong as the work we do together, and we are honored to partner with The Carters,” said Anisa Kamadoli Costa, Chief Sustainability Officer of Tiffany & Co. “Their relentless dedication to lifting underrepresented groups is the inspiration for the About Love Scholarship program.”
The scholarship supports incoming and current students interested in pursuing various degree programs in history, communications and the creatives such as visual arts, media, performance, and design among others. To be eligible for the program, students must qualify for financial aid as determined by the HBCU they attend, and the scholarships will be awarded to students who meet all eligibility requirements.
The latest move by Jay-Z and Beyonce adds to the star couple’s long philanthropic pursuits. When the coronavirus pandemic struck, Beyonce’s BeyGOOD donated $6 million as part of a COVID-19 relief effort.
In partnership with NAACP, Beyonce also launched Black-Owned Small Business Impact Fund to support Black business owners disproportionately affected by the pandemic. Her other support programs include funding the education of three budding gemologists with the Beyoncé Knowles-Carter x Lorraine Schwartz GIA Scholarship.
The Shawn Carter Foundation, on the other hand, has donated over $16 million to programs designed to empower the youth and deprived communities. Jay-Z has also contributed to the COVID-19 relief effort.