In July 2023, Scholly achieved a significant milestone in its mission to expand access to higher education for students facing financial barriers. As reported earlier by a leading publication, Scholly was acquired by Sallie Mae, a move that paved the way for making the college scholarship app freely available to all students, families, and users. The collaboration between Scholly and Sallie Mae began when Sallie Mae initiated discussions for a partnership in February 2023. Subsequently, both parties decided that an acquisition would be the optimal course of action, encompassing the acquisition of the entire Scholly team. Despite facing some challenges during the due diligence process, leading to a prolonged negotiation period, Scholly and Sallie Mae successfully concluded the deal. Reflecting on the partnership, Scholly Founder and CEO Christopher Gray highlighted the initial skepticism surrounding the alignment of Sallie Mae, known for student loans, and Scholly, recognized for scholarships. He clarified that Sallie Mae's intention was to acquire Scholly to offer the app for free and enhance student access to financial aid opportunities. Gray emphasized the rarity of a Black tech company like Scholly being acquired by a bank, underscoring the significance of the achievement within the tech ecosystem. While acknowledging the criticism often faced by Black-founded companies post-acquisition, Gray emphasized the importance of celebrating such exits as they contribute to wealth creation and job opportunities within the Black community. Following the acquisition, Scholly experienced a surge in app downloads due to Sallie Mae's extensive reach. The collaboration also enabled the provision of additional scholarships to students, including $250,000 awarded to 25 Historically Black Colleges and Universities (HBCUs) students and a commitment of $1 million to Delaware State University for a research endowment to bridge the completion gap. Gray reaffirmed Scholly's commitment to its mission post-acquisition, focusing on continuing to empower people of color and maintaining the app's impact on scholarship opportunities. With over five million users and a track record of helping students secure $100 million in scholarships, Scholly remains dedicated to driving positive change in education.