Puff Daddy is donating $1 million (£771,000) to Howard University, where he once was a student.
The rapper and music mogul, whose real name is Sean Combs, made the announcement alongside Howard President Wayne Frederick at his Bad Boy Records reunion tour show on Thursday night in Washington, DC, where the historically black college is located.
Howard says the money will go towards creating a Sean Combs Scholarship Fund, which will award money to undergraduate business majors with a financial need.
The school also says recipients will get an internship with one of Combs' companies and mentoring through Combs Enterprises.
The music star, 46, spent two years at Howard before dropping out in 1990. He received an honorary doctorate and served as commencement speaker in 2014.