Lockheed Martin has launched a science, technology, engineering and math (STEM) scholarship program for high school and college undergraduate students looking to focus on engineering and computer science.

The $30 million program will award a $10,000 annual scholarship to 200 students that demonstrate financial need and come from underrepresented or underserved communities. These recipients may renew the scholarship up to three times for a total potential value of $40,000 per student.

Lockheed Martin will give out the award to 200 new recipients each year over the next five years along with the chance to qualify for an internship at the company following their freshman year in college.

The application period opens on January 15 of next year and will be administered by Scholarship America. To learn more about the STEM program, visit Lockheed Martin.