Black-Owned ‘Scholly’ App Has Been Acquired By Sallie Mae
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Posted By: S. Moore on August 14, 2023 Christopher Gray is the founder of Scholly, a rapidly expanding scholarship search app he developed in 2013 after his own experience trying to find funding for college. “I grew up in a low-income household, and I was the first in my family to go to college. I was able to land a million-dollar scholarship, and that changed my life. That allowed me to go to college, that gave me no student debt, and I went throughout college trying to help other students do the same,” Gray previously told Because Of Them We Can. He eventually turned his skills into a reputable company, launching the app in partnership with his student peers to help streamline the scholarship search process and make it easier for students to find money for school, People Of Color In Tech reports. “With Scholly, we created a solution that helps level the playing field and allows every student to go to college, regardless of their financial background,” said Gray. He eventually appeared on ABC’s Shark Tank, landing a deal with businessman Daymond John and entrepreneur Lori Greiner. To date, Scholly has helped students procure more than $100 million in scholarships and is the number one scholarship search app. Now, Sallie Mae has announced its recent acquiring of Scholly, the student lending giant now owning several key assets of the app. Sallie Mae has acquired Scholly’s scholarship administration technology and the Scholly Offers platform which allows users to be matched with strategic partners that help them earn cash back. The new deal makes the Scholly app completely free for students and families to gain access to millions of dollars in potential scholarships. “Acquiring Scholly’s key assets is aligned with our mission to power confidence in students and families and further solidifies Sallie Mae as an education solutions company,” said Sallie Mae CEO Jon Witter. Gray took to social media to announce the new acquisition, saying the partnership will help “expand [Scholly’s] reach [and] resources.” “Sallie Mae shares the same goals, and by making access to Scholly free, together we are further investing in higher education access and affordability for students and families from all backgrounds,” Gray explained. To learn more about Scholly, visit www.myscholly.com. SOURCE Because of Them We Can If you enjoyed this article, Join HBCU CONNECT today for similar content and opportunities via email! |
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