[rank_math_breadcrumb]
PURPOSE: To assist eligible dependents of Lozier employees who plan to continue their education in college or vocational school programs.
THE PROGRAM
The program is called the Lozier Foundation Sons and Daughters Scholarship Program. The sponsor is the Lozier Foundation. The administrator is UNIGO.
ELIGIBILITY
Applicants must be dependent* children of full-time Lozier Corporation employees who have a minimum of one year of employment as of the application deadline date. It is possible that a Lozier employee could also be a dependent child. As long as they qualify under the definition below, they are eligible to apply. If awarded the scholarship, the student/employee may still request tuition assistance under the Lozier Education Assistance Plan’s terms.
* Dependent children are defined as natural and legally adopted children or stepchildren living in the
employee’s household or primarily supported by the employee.
Also eligible are dependent children of disabled or deceased employees who had a minimum of one year of continuous full-time employment with Lozier Corporation at the date of their disability or death.
Applicants must be high school seniors or graduates who plan to enroll in, or students who are already enrolled in, a full-time undergraduate course of study at an accredited two-year or four-year college or university or a vocational/technical school for the entire academic year.
Applicants must have a minimum cumulative grade point average of 2.0 on a 4.0 scale (or equivalent).
Children of company officers or executives are ineligible.
AWARDS
The program will utilize standard UNIGO recipient selection procedures, including the consideration of past academic performance and future potential, leadership and participation in school and community activities, work experience, statement of career and educational aspirations and goals, unusual personal or family circumstances, financial need, and an outside appraisal.
Up to forty (40) new awards of $4,000 each will be granted each year. The number of scholarships per location will be determined in direct proportion to the total number of qualified applicants received. Per IRS guidelines, no more than 25% of the applicant pool can be granted awards.
Awards are renewable up to three years or until a bachelor’s degree is earned, whichever occurs first, based on maintaining a 2.0 GPA on a 4.0 scale (or the equivalent) and continued full-time enrollment.
Awards are for undergraduate study only at a U.S.-based accredited postsecondary institution.
PROCESS
The scholarship application process and administration of the program are all online. Communication from UNIGO is through secure email. A designated employee from the Lozier Foundation staff manages the process internally through a client portal at https://www.myscholarship.app/lozier.
Awards can only be paid to an accredited educational institution and only after UNIGO receives a recipient’s verification of enrollment from the recipient’s educational institution, tuition billing statement, and transcript to validate grades. Scholarship funds may be used by recipients to support their overall educational expenses, however, recipients are advised that, under federal tax law and as described in IRS Publication 970, the tax treatment of scholarship funds depends on how the funds are used.
Under IRS guidance, scholarship amounts are not included in gross income to the extent they are used to
pay qualified education expenses. Qualified education expenses generally include tuition required for enrollment or attendance at an eligible educational institution, mandatory fees required for enrollment, and books, supplies, and equipment required for coursework
Scholarship amounts used for expenses other than qualified education expenses are generally included in the recipient’s gross income and may be taxable. Non-qualified expenses may include, but are not limited to:
– Room and board or housing on-campus or off-campus
– Transportation or travel
– Insurance
– Medical expenses
– Personal, living, or discretionary expenses
To the extent scholarship funds are used for non-qualified education expenses, recipients may be required to report those amounts as taxable income and are solely responsible for any associated federal, state, or local tax obligations.
Scholarship recipients are solely responsible for determining the proper tax treatment of their scholarship award and for complying with all applicable tax reporting obligations. Neither Lozier or Unigo can provide tax advice. Recipients are encouraged to consult IRS Publication 970 or a qualified tax professional for guidance regarding the tax implications of their scholarship.