{"id":772898,"date":"2023-07-27T01:38:06","date_gmt":"2023-07-27T05:38:06","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/sallie-mae-acquires-key-assets-of-top-scholarship-search-app-scholly\/"},"modified":"2023-07-27T01:38:06","modified_gmt":"2023-07-27T05:38:06","slug":"sallie-mae-acquires-key-assets-of-top-scholarship-search-app-scholly","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/sallie-mae-acquires-key-assets-of-top-scholarship-search-app-scholly\/","title":{"rendered":"Sallie Mae Acquires Key Assets of Top Scholarship Search App Scholly"},"content":{"rendered":"

<\/p>\n

Sallie Mae Acquires Key Assets of Top Scholarship Search App Scholly<\/b><\/p>\n

Asset Acquisition Adds to Sallie Mae\u2019s Growing Suite of Education Solutions That Help Families Effectively Plan and Pay for Higher Education<\/i><\/b><\/p>\n

Sallie Mae to Make Scholly\u2019s Scholarship Search App Free For Students and Families<\/i><\/b><\/p>\n

NEWARK, Del.–(BUSINESS WIRE<\/a>)–
\nSallie Mae (Nasdaq: SLM), formally SLM Corporation, today announced it has acquired several key assets of top scholarship search app, Scholly. In addition to Scholly\u2019s industry-leading scholarship search and app, Sallie Mae will acquire Scholly\u2019s scholarship administration technology, and Scholly Offers, a platform that matches users with strategic partners to help them earn cash back.<\/p>\n

\nFollowing the acquisition, Sallie Mae will make Scholly free for all students, families, and other users, providing access to search and apply for millions of dollars in scholarships. To date, Scholly has helped millions of members secure more than $100 million in scholarships. The company was founded by Christopher Gray, Nicholas Pirollo, and Bryson Alef.<\/p>\n

\n\u201cWith Scholly, we created a solution that helps level the playing field and gives every student the opportunity to go to college, regardless of their financial background,\u201d said Gray, who himself won $1.3 million in scholarships to attend Drexel University and gained national attention when he landed a deal for Scholly on ABC\u2019s \u2018Shark Tank.\u2019 \u201cSallie Mae shares that same goal 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.\u201d<\/p>\n

\n\u201cAcquiring Scholly\u2019s key assets is aligned with our mission to power confidence in students and families and further solidifies Sallie Mae as an education solutions company,\u201d said Jon Witter, CEO, Sallie Mae. \u201cIt also allows us to harness and build on Scholly\u2019s innovative technology to unlock future strategic growth opportunities. I\u2019m thrilled to welcome Chris and his talented team to Sallie Mae.\u201d<\/p>\n

\nThe acquisition also includes some of Scholly\u2019s technology, intellectual property, and experienced staff. It follows Sallie Mae\u2019s acquisition of the assets of education technology firm Nitro College<\/a> in 2022.<\/p>\n

\n\u201cWe know scholarships are critical to making college more affordable but too often they go unclaimed due to a lack of awareness or simply not knowing how to find them,\u201d said Donna Vieira, Chief Commercial Officer, Sallie Mae. \u201cThrough this acquisition of assets, we\u2019ll simplify the process, connecting more students and families to a free, one-stop shop for all things scholarships.\u201d<\/p>\n

\nTerms of the acquisition are not being disclosed as purchase price is not material to the company. Squire Patton Boggs (US) LLP served as legal advisor to Sallie Mae in this transaction. Peak Technology Partners, LLC served as exclusive financial advisor to Scholly Inc. and Carter Ledyard & Milburn LLP served as legal advisor for this transaction.<\/p>\n

\nFor more information visit www.SallieMae.com<\/a>. Download Scholly for free at www.myScholly.com<\/a> or in App store or on Google Play.<\/p>\n

Sallie Mae<\/b> (Nasdaq: SLM) believes education and life-long learning, in all forms, help people achieve great things. As the leader in private student lending, we provide financing and know-how to support access to college and offer products and resources to help customers make new goals and experiences, beyond college, happen. Learn more at SallieMae.com. Commonly known as Sallie Mae, SLM Corporation and its subsidiaries are not sponsored by or agencies of the United States of America.<\/p>\n

\nCategory: Corporate and Financial<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20230726114303\/en\/<\/a><\/span><\/p>\n

\nRick Castellano
\n
302-451-2541
\n
rick.castellano@salliemae.com<\/a><\/p>\n

KEYWORDS:<\/b> United States North America Delaware<\/p>\n

INDUSTRY KEYWORDS:<\/b> Finance Other Education Professional Services Technology University Apps\/Applications Primary\/Secondary Education<\/p>\n

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Sallie Mae Acquires Key Assets of Top Scholarship Search App Scholly Asset Acquisition Adds to Sallie Mae\u2019s Growing Suite of Education Solutions That Help Families Effectively Plan and Pay for Higher Education Sallie Mae to Make Scholly\u2019s Scholarship Search App Free For Students and Families NEWARK, Del.–(BUSINESS WIRE)– Sallie Mae (Nasdaq: SLM), formally SLM Corporation, today announced it has acquired several key assets of top scholarship search app, Scholly. In addition to Scholly\u2019s industry-leading scholarship search and app, Sallie Mae will acquire Scholly\u2019s scholarship administration technology, and Scholly Offers, a platform that matches users with strategic partners to help them earn cash back. Following the acquisition, Sallie Mae will make Scholly free for all students, families, and other users, providing … <\/p>\n

Continue reading “Sallie Mae Acquires Key Assets of Top Scholarship Search App Scholly”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-772898","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nSallie Mae Acquires Key Assets of Top Scholarship Search App Scholly - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/sallie-mae-acquires-key-assets-of-top-scholarship-search-app-scholly\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sallie Mae Acquires Key Assets of Top Scholarship Search App Scholly - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Sallie Mae Acquires Key Assets of Top Scholarship Search App Scholly Asset Acquisition Adds to Sallie Mae\u2019s Growing Suite of Education Solutions That Help Families Effectively Plan and Pay for Higher Education Sallie Mae to Make Scholly\u2019s Scholarship Search App Free For Students and Families NEWARK, Del.–(BUSINESS WIRE)– Sallie Mae (Nasdaq: SLM), formally SLM Corporation, today announced it has acquired several key assets of top scholarship search app, Scholly. In addition to Scholly\u2019s industry-leading scholarship search and app, Sallie Mae will acquire Scholly\u2019s scholarship administration technology, and Scholly Offers, a platform that matches users with strategic partners to help them earn cash back. 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