Beacon of Hope was established in 2011 for residents of Lynchburg City and attend Lynchburg City Schools since 9th grade. The award provides $5,000 over 2-4 years at any in-state 2-year or 4-year institution and an additional $2,000 for students who attend Central Virginia Community College, Liberty University, Lynchburg College, or Randolph College. Students must also meet merit requirements. Awards are on a last dollar basis. The program is funded by Lynchburg Beacon of Hope.