MTV and CollegeBoard recently announced that they will help students find more scholarship opportunities through a new Facebook application, or app, called “My College Dollars,” according to an MTV press release. This app will use data from users’ Facebook accounts, including their age, gender and state, to match them up with financial aid options they may be eligible for.

Additionally, the app will give students information on paying for college and making smart financial decisions. Users can connect to their peers and experts to get guidance on college finances, and check an integrated calendar that alerts them of important deadlines and dates.

MTV President Stephen Friedman said the purpose of the app is to make more students see that earning a degree is possible.

“A college degree is more important now than ever for young people entering the workforce,” Friedman said in a statement. “‘My College Dollars’ is an innovative digital tool that will help students connect with money for school and hopefully put a college degree in closer reach for more students.”