The Louisiana TOPS Honors Award was established in 1989 for Louisiana residents. The award pays for tuition and certain fees at any in-state public colleges or universities plus an annual stipend of $800 on a first dollar basis. Students who attend in-state private colleges can receive the value of weighted average in-state public tuition and $800 stipend as well. Students must also merit requirements. The program is funded by Louisiana's general fund and the state's Millennium Trust.