Photo: Raven Varona (Parkwood Entertainment)

Beyoncé Knowles-Carter and Shawn “Jay-Z” Carter are already well known for their philanthropy, especially as it pertains to contributing toward the higher education costs of college-bound students. They are continuing that legacy this year with a new scholarship program.

Parkwood Entertainment announced in a press release Saturday that the Carters will be awarding $100,000 each to 11 lucky high school students for the 2018-2019 school year. The students will be chosen by Boys and Girls Club of America branches in 11 On the Road II markets—Atlanta, Orlando, Miami, Arlington, New Orleans, Houston, Phoenix, Los Angeles, San Diego, Santa Clara and Seattle. The students will be selected on the basis of academic merit and financial need.

Once chosen, the $100,000 would be a dedicated university-based fund that would be used for the student’s expenses throughout their enrollment in college.

Imagine having your entire college education (or a good portion of it) paid off by the Carters. How magical would that be?

Good luck to all the students out there who have thrown their names in the ring for the scholarships, and congratulations to those who are chosen.

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This is yet another example of the good that can come when you just take your No. 2 album and go on tour, quietly collect your money and mind your business.