New Delhi, Apr 26 (ANI): In honor of the one-year anniversary of her iconic ‘Lemonade’ album, pop sensation Beyonce has announced four college scholarships. ‘Lemonade’ won a Peabody Award last week, and Beyonce bagged two Grammys for phenomenal work in February. As per statement issued, the Formation Scholars program will give awards to ‘young women who are unafraid to think outside the box and are bold, creative, conscious and confident. Berklee College of Music, Howard University, Parsons School of Design and Spelman College are the four schools participating. Reportedly, each college will have one recipient for the 2017-18 academic year. Also students who are studying creative arts, music, literature or African American studies are eligible to apply. Spelman College informs on its website that the one-time award is worth $25,000, which would cover a little more than one semester's worth of tuition, fees and boarding.