Sallie Mae Completes Acquisition of Key Assets of Black-Led Scholly

Sallie Mae Completes Acquisition of Key Assets of Black-Led Scholly
  • PublishedJuly 31, 2023

Sallie Mae Acquires Key Assets of Scholly, the College Scholarship App, to Boost Education Access

For almost a decade, Scholly, the college scholarship app, has been instrumental in helping students break free from the burden of debt. Guided by their mission to enable students to access financial freedom, Scholly Founder and CEO, Christopher Gray, highlighted the need to support students throughout their higher education journey.

In a significant development, on July 26, it was announced that Sallie Mae has acquired several key assets of Scholly, along with its scholarship administration technology and the innovative platform, Scholly Offers, which matches users with partners to earn cash back.

Sallie Mae’s CEO, Jon Witter, emphasized that this acquisition aligns with their mission to empower students and families and positions them as an education solutions company. Welcoming Chris and his talented team to Sallie Mae, he expressed enthusiasm for harnessing Scholly’s innovative technology for future growth opportunities.

In an exciting move, Sallie Mae will make the Scholly app accessible to all students, families, and users for free. By doing so, they aim to level the playing field and enhance college opportunities for students, irrespective of their financial backgrounds.

Scholly’s remarkable impact is evident as they have reportedly awarded $100 million in scholarships to date. With over five million students benefiting from the app’s support to secure funding for colleges and universities across the U.S., the acquisition adds significant momentum to Sallie Mae’s commitment to education access and affordability.

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