CVS Health is following through with its commitment to social justice and racial equity in America with its latest educational initiative.

Last week, CVS Health Foundation announced the launch of a five-year, $5 million scholarship program in collaboration with the United Negro College Fund (UNCF) — the nation’s largest minority education organization advocating for minority education — to help Black and brown college students pursue an academic career in healthcare.

The new initiative — called the CVS Health Foundation Health Care Careers Scholarship program — is a part of CVS Health’s nearly $600 million plan to properly address racial inequity for disenfranchised communities over the next five years, a press release shares.

“This scholarship will feed a robust pipeline of under-represented students, which will in turn strengthen the pool of talented college graduates ready for today’s and tomorrow’s workplace,” said David Casey — Senior Vice President and Chief Diversity Officer at CVS Health — in a statement. “Enabling students to excel in the workforce particularly people of color and those facing financial barriers advances our commitment to social justice and equity and will have a lasting impact.”

The scholarship program will make itself available to need-based Black and Latinx students attending accredited four-year colleges or universities in the U.S. who have an interest in exploring a career path in the healthcare sector.

Eligible areas of study within healthcare include majors such as pharmacy, nursing, business management, biology, biochemistry, finance, operations/supply chain, data analytics, information technology, actuary and human resources.

CVS Health’s noble effort for financially-backing minority students will help bolster a pipeline of aspiring healthcare professionals who are poised to change the future.

“This is an incredibly generous gift from the CVS Health Foundation,” said UNCF CEO and president, Dr. Michael L. Lomax, in a press statement. “We know that African American, Latinx and other minority communities have been disproportionately impacted by the current pandemic. It’s particularly important right now to welcome as many students of color as we can into the health care field. The ripple effect of COVID-19 has the potential to discourage students from pursuing a college education and may prevent others from continuing their education. Recognizing these facts, the CVS Health Foundation is providing a pathway for successful applicants to continue on their journey to attain a college degree and become our next generation of pandemic frontliners.”

A press release reports that these two-year scholarships from CVS Health and UNCF will go on to support students in their junior and senior years of college as they finish out their respective programs.

“Working with UNCF, the CVS Health Foundation is supporting a best-in-class model for moving students to and through college,” said Eileen Howard Boone — SVP of Corporate Social Responsibility and Philanthropy, CVS Health and President of the CVS Health Foundation — in a statement. “UNCF has an impressive track record of impacting minority education and improving graduation rates for students, while making a meaningful difference in the lives of selected scholars.”

Applications for the CVS Health Foundation Health Care Career Scholarship are open now through April 1.

For more information about how to apply, click here.