Beyoncé is supporting cosmetology students and beauty salons with a new scholarship and grant fund.

The “Formation” singer’s BeyGOOD foundation is partnering with her new Cécred haircare brand to support aspiring stylists and small businesses in the beauty industry.

“Hairstylists have an immense impact on the people in their chairs. They create a sacred space where we can show up how we want and express ourselves through our hair,” read a statement on the foundation’s website on Tuesday, February 20. “We’re honored to give back to this amazing community.”

The funding announcement followed Beyoncé, launching her new Cécred haircare company the same day.

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The BeyGOOD x Cécred Fund will award $500,000 annually to support cosmetology school scholarships and salon business grants in Atlanta, Chicago, Houston, Los Angeles and Clementon, New Jersey.

​​The statement added that the fund “celebrates the influence professional stylists have on hair health and the critical importance of advocating for the salon community.”

$250,000 in scholarships will be provided to students attending the Beaver Beauty Academy in Atlanta, Trenz Beauty Academy in Chicago, Universal College of Beauty in Los Angeles, Franklin Institute in Houston and Janas Cosmetology Academy in Clementon, New Jersey.

To qualify, the student must demonstrate financial hardship and either be already enrolled or accepted into one of the cosmetology schools. Applications for the scholarship opened Tuesday on the BeyGOOD foundation website and will close on March 20, with the recipients to be announced on April 20.