Are you one of the millions of young Americans drowning in student loan debt? If so, First Aid Beauty wants to ease your burden through its new FAB AID initiative — a grant program to help pay student loans for stressed-out millennials and Gen Zers like you and me. This is absolutely the best kind of costumer loyalty reward program, and it is going to make a critical difference in the lives of so many people. Here are the details, including how to apply for the grant!

FAB is announcing a $1 million fund.

Yes, you read that right. FAB AID is beginning with a $1 million fund for student loan debt relief. In addition to FAB's initial $1 million commitment, the company is also donating 10% of sales from its FAB AID Ultra Repair Creams, which is available here at Sephora. Winners will have their loans paid in full, up to $100,000.

Here are the eligibility guidelines.

Old folks like me, nurse your disappointment. FAB is opening FAB AID to recent college grads only: Recipients must have graduated from a four-year accredited university between January 1, 2018, and August 31, 2020. Additionally, the applications are only open for students in the United States and Canada.

There is an advisory board that will choose the recipients. 

FAB AID has also enlisted an advisory board to choose winners from its pool of applicants. Per their Instagram, the advisory board includes:

"@lauramarano - Actress, singer-songwriter

@nabela - Creator, entrepreneur, activist ⁣

@ajadang – Model, actress, YouTube personality⁣

@clevergirlfinance (Bola Sokunbi) - Finance expert, bestselling author, founder of Clever Girl Finance

@lilligordonFAB - Founder and CEO of @firstaidbeauty⁣

Barry Mills - ⁣President Emeritus, Bowdoin College"

Applicants will be scored on a few things.

The advisory board will make their decisions based on a few criteria: "Perseverance (speaking to the past/present), Aspiration (dreams for the future), Authenticity (personal story), and Passion (enthusiasm, energy, and excitement)," per the brand's website. Each section will account for 25% of an overall score.

Here's how you can apply!

Applications are now open for FAB AID. Interested applicants must fill out the application and must submit a video. The video should be shot vertically and be under two minutes in length. Applicants are encouraged to "share a story about how student loans have affected your life." Good luck! Now, if only a magical student loan fairy could appear and wipe out my student loans, thank you very much.