The Memphis City Council announced Wednesday that it has created a $1 million scholarship fund for students from Memphis and Shelby County planning to attend a historically Black college or university (HBCU).

According to a news release, the goal is to help high school graduates who need financial support to continue their education.

The Memphis City Council HBCU Fund offers $1 million in scholarships to HBCUs, to be split evenly between the 2023-24 and 2024-25 academic years. There will be 100 scholarships that range from $2,500 to $15,000 awarded this round.

Memphis City Council chairman and Howard University alumnus Martavius Jones helped create the fund.

“The Memphis City Council recognizes the financial hardship that students and families experience in their efforts to pay for a college education,” said Jones in a news release.

“As a graduate of an HBCU, I understand how valuable these particular institutions are for developing young people so that they are able to return to the City of Memphis and make a lasting, positive impact in their community.”

According to Action News 5, a volunteer committee selected by the Community Foundation of Greater Memphis, composed of a group of community leaders who are HBCU graduates, will review all application submissions and select all recipients.

In order to qualify for the scholarship, students must have graduated or will graduate from a high school in Memphis or Shelby County.

The application process started Jan. 17 and ends on March 31. It can be found at cfgm.org/scholarships.