Applicants to the McCrory Corp. Transition Assistance and Scholarship Program must:

• Be individuals, or children or grandchildren of individuals, who were employed on either a full-time or part-time basis with McCrory Corp. on September 10, 2001 and identified on a list provided to Scholarship America dated September 22, 2006.
• Be high school seniors or graduates who plan to enroll or students who are already enrolled in full-time or part-time undergraduate study at one of the following United States institutions for the 2021-2022 academic year:
  • An accredited two or four year college, university or vocational-technical school,
  • Trade school or skill building institution that is state approved,
  • Program of study that is approved by the relevant industry association, or
  • An authorized computer software training institution.

Instructions for Completing the Financial Data Section of the Application

The Financial Data section of the application should be completed by parents, guardians, or by the applicant if independent. Independent is defined as one who is not claimed as a dependent by the parent/guardian for tax purposes. Information should be from a completed tax return filed with the IRS.

1. State of Residence is the state where the parents and/or (independent) applicant reside and pay state income tax.
2. Adjusted Gross Income can be found on IRS FORM 1040 and is gross income reduced by specific adjustments allowed by law.
3. Total Federal Tax Paid includes the total amount of federal income tax to be paid as reported on IRS FORM 1040. This is not the amount withheld from employee’s paychecks. (The amount withheld should be adjusted by any refund or additional taxes due.) Do not report state income tax.
4. Total Income of parent(s) should be reported individually for both parents if applicant is a dependent student, or by the applicant if independent. If applying as a dependent student, provide information for both natural parents, when possible. If the student resides with only one parent, financial information must be received from the parent who claims the child as a dependent for tax purposes. If a parent has remarried, the spouse’s information is required if the spouse is a legal guardian of the student, or claims the student as a dependent, or the student is included in the spouse’s benefit plan. If necessary, two Financial Data sections may be submitted by the student. A copy of the Financial Data section may be made in order for one to be completed by each parent.
5. Untaxed Income and Benefits include any other income or benefits not included in the adjusted gross income figure. Do not include untaxed contributions to retirement plans.
6. Medical and Dental Expenses include only those expenses not paid by insurance. Do not include premium payments.
7. Total Cash, Checking, Savings, Cash Value of Stocks, etc., includes liquid assets that can be used for educational expenses. Do not include IRA, 401k, or other retirement plan funds.
8. Total number of family members living in the household and primarily supported by the reported income may include:
   • the applicant
   • the applicant’s parents
   • other children living in the household
   • dependent college students living away from home
   • other people who live in the household and receive more than half of their support from the reported income
9. Marital Status is the current status of the person from whom the financial information is submitted.
10. Of the total number of family members on line 8, number of students attending college includes family members attending a two- or four-year college, university, or vocational-technical school at least half-time. Include the applicant in this number. Do not include parents.

NOTE: Any exceptions to providing financial information as instructed above must be submitted to Scholarship America in writing.