Scholarship from Beyoncé, Jay-Z, and Tiffany & Co. means $400,000 for Bennett College

Beyoncé and Jay-Z are part of a group sending a scholarship gift of $400,000 to Bennett College in Greensboro.

The About Love Scholarship program is a partnership between the jeweler Tiffany & Co., and the famous couple's BeyGOOD and Shawn Carter foundations. 

Bennett, a private historically black women's college, is one of five HBCUs receiving the $400,000 scholarship. 

Dr. Laura Colson is the vice president of academic affairs at Bennett. 

“Financially, this opportunity will allow our students to either decrease or possibly eliminate balances they may have associated with tuition and fees that come with educating themselves here at Bennett College,” Colson says.

The scholarship is primarily focused on students majoring in the arts and journalism.