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LONDON, ENGLAND - FEBRUARY 08: Chadwick Boseman attends the European Premiere of Marvel Studios' "Black Panther" at the Eventim Apollo, Hammersmith on February 8, 2018 in London, England.

Chadwick Boseman’s legacy will now live on through a scholarship in his honor. Boseman’s alma mater Howard University is honoring the late actor by creating a $5.4 million scholarship to help future students at the Howard’s College of Fine Arts, the university announced in a press release Monday.

The four-year scholarship will cover full tuition for incoming students and was created by Boseman’s wife Simone Ledward-Boseman with a sponsorship from Netflix, the inaugural donor.

“It is with immense pleasure and deep gratitude that we announce the creation of an endowed scholarship in honor of alumnus Chadwick Boseman, whose life and contributions to the arts continue to inspire,” said Dr. Wayne A. I. Frederick, president of Howard University. “This scholarship embodies Chadwick’s love for Howard, his passion for storytelling, and his willingness to support future generations of Howard students. I am thankful for the continuous support and partnership of Chadwick’s wife, Mrs. Simone Ledward-Boseman, and to Netflix for this important gift.”

The first four scholarships will begin being awarded at the beginning of the Fall 2021 semester and will have a recipient from each class. After this Fall 2021 term, the scholarship will be distributed to incoming freshman that exemplifies extraordinary skills in the arts recollective of Boseman and those who are in need of financial support.

Ledward-Boseman touched on what this scholarship will mean to future graduates of the program: “This endowment represents Chad’s devotion to the craft, his compassion for others, and his desire to support future storytellers.”

“I’m overwhelmed with gratitude and amazed at the love and dedication shown by so many continuing to honor my husband’s work,” Ledward-Boseman added. “I know he’d be proud.”

“We are grateful to Simone and Chadwick’s whole family and our partners at Howard University for making this possible,” said Ted Sarandos, Netflix co-CEO and chief content officer.

The four recipients this year are freshman Sarah Long, sophomore Shawn Smith, junior Janee’ Ferguson, and senior Deirdre Dunkin.