Dorothy Steel, the 95-year-old actress who played a tribe leader in the first film, has also passed away.
Recipients will be awarded with a full ride to Howard's College of Fine Arts for all four years.
The British-Ghanaian actress has joined the cast of the highly anticipated sequel, which recently began filming in Atlanta.
The Disney+ animated series was originally slated to debut on August 11.
"We're going to do it in a way that would make Chad proud," said Marvel Studios Chief Kevin Feige.
The actress's role as general of Wakanda's Dora Milaje will continue in the Marvel Cinematic Universe.
Fellow alum Phylicia Rashad has been appointed dean of the re-established school.
The late actor played trumpet player Levee Green in the Netflix original film, Ma Rainey's Black Bottom.
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