--------------------------------------------------------------------------------

                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                               ------------------

                                    FORM 8-K

                               ------------------

                                 CURRENT REPORT

                       Pursuant to Section 13 or 15(d) of
                       the Securities Exchange Act of 1934

         Date of Report (Date of earliest event reported): July 26, 2006

                               ------------------

                             SCHOLASTIC CORPORATION
               (Exact Name of Registrant as Specified in Charter)

                               ------------------

            DELAWARE                 000-19860                 13-3385513
  (State or Other Jurisdiction    (Commission File          (I.R.S. Employer
        of Incorporation)             Number)              Identification No.)


                557 BROADWAY, NEW YORK,                     10012
                        NEW YORK                          (Zip Code)
        (Address of Principal Executive Offices)

                                 (212) 343-6100
              (Registrant's telephone number, including area code)

          (Former name or former address, if changed since last report)

                               ------------------

Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:

[ ]  Written communications pursuant to Rule 425 under the Securities Act (17
     CFR 230.425)

[ ]  Soliciting material pursuant to Rule 14a-12(b) under the Exchange Act (17
     CFR 240.14a-12)

[ ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the
     Exchange Act (17 CFR 240.14d-2(b))

[ ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the
     Exchange Act (17 CFR 240.13e-4(c))

--------------------------------------------------------------------------------



Item 2.02  Results of Operations and Financial Condition

On July 26, 2006 Scholastic Corporation issued the press release attached hereto
as Exhibit 99.1 announcing a correction to its previously reported calculation
of earnings per share for fiscal 2006 and interim periods.

The information in this Current Report on Form 8-K, including Exhibits, is being
furnished to the Securities and Exchange Commission (the "SEC") and shall not be
deemed to be incorporated by reference into any of Scholastic's filings with the
SEC under the Securities Act of 1933.


Item 9.01  Financial Statements and Exhibits

(a)    Not applicable

(b)    Not applicable

(c)    The following exhibit is filed as part of this report:

       Press release of Scholastic Corporation, dated July 26, 2006, is filed
as Exhibit 99.1.






                                   SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

Date:  July 27, 2006                     SCHOLASTIC CORPORATION
                                         (Registrant)



                                         /s/ Mary A. Winston
                                         -------------------
                                         Name: Mary A. Winston
                                         Title: Executive Vice President and
                                                Chief Financial Officer





                                  EXHIBIT INDEX

Number       Exhibit
------       -------

99.1         Press release of Scholastic Corporation, dated July 26, 2006