Interview: Scholly’s Founder On Making College More Affordable Through Tech

“The money’s out there, we make it easy to find.”

Scholarship app Scholly is the brainchild of Christoper Gray, who won $1.3 million in scholarships after hours of searching in the library.

He eventually received scholarships from organizations such as the Bill and Melinda Gates Foundation and the Coca-Cola Scholars Foundation to study finance and entrepreneurship at Drexel University.

However, after realizing how broken and time-consuming the scholarship-searching process was, he created Scholly to make things easier for students.

Private student lending company Sallie Mae acquired Scholly in August 2023. This made the platform free and accessible for all students, families, and other users while providing access to search and apply for millions of dollars in scholarships.

A report surveying students and parents in the 2022-2023 academic year found that a lack of awareness of eligible scholarships was the main reason families didn’t apply during the year.  Tuition fees have also increased 747.8% since 1963, and wages don’t match those figures.

We spoke with founder Gray to gain insight into applying for scholarships, tips for students, and the shift to tech skilled-based courses.

What was your experience of searching for college scholarships like? 

I used a lot of different sites on the internet. It was really hard and long, and many lists were just data mining information, so some were not legitimate scholarships.

Having to spend so much time looking for the scholarships and then actually getting them was hard.

It’s one of the reasons why I started Scholly, because I was like, wow, there is money out there, but it’s just really hard to find.

How can students make the most of the Scholly app?

The first step is to get the Scholly, of course; it’s a free app.

Once you get your list of scholarships from the app, you want to prioritize. We have a feature in the app called the Scholly score that ranks the scholarships that you’re most likely to get based on our data patterning.

Then, you should start looking at what your essays will look like. A lot of scholarships have similar essays, so look at their requirements because you might be able to use the same ones.

Then, apply for as many as you can. Generally, I would apply for five to six times the amount I need to ensure I get what I need.

If I knew that I would need $15,000 a year, I would apply for $60,000 total.

What tips or advice would you give for the application process?

Many of them ask for the same essay, so you can repurpose each one to fit the requirements.

Also, make sure you focus on the scholarships you are most eligible for because your competition will be less.

Another important point is to start early. You probably want to start your junior year of high school to ensure you have your list and process in place.

What alternatives are there for students who don’t receive scholarships?

Well, only 41% of families that qualify for scholarships applied last year, so many people are not applying, which is why scholarships should come first.

You also have FAFSA funding, which is federal student aid, the next easiest way to ensure you get the money you need.

As tuition fees increase, what are the implications for students of color?

I think student debt is one of the biggest debts for people of color. You would think it would be mortgages, but many of us can’t get mortgages because of the student debt. I do think it is hurting people of color.

However, there is a movement towards skills training that will disrupt that as training on specific skills will allow you to get jobs moreso than just a degree.

Employers are starting to say, if you show me you can do the work, you can code; I don’t care about the degree.

Therefore, I think colleges will adopt that and become much more affordable because it will be training on a specific skill that can take six months to a year instead of a four-year degree.

What skills do you see up and coming?

AI is disrupting the workforce, so I think people will transition into needing to be trained in those skills. That’s going to be the future, and it’s going to change things and work.

I really encourage people to embrace AI; don’t be late.

According to the Pew Research Center, Black students earned only 7% of STEM bachelor’s degrees in 2018. Can scholarships potentially increase the number of Black students in the tech industry?

Yes, a lot of scholarships have already started to be repurposed, where you can use them for skills training and boot camps. So it’s already happening, and these skills training are becoming more affordable.

If that happens, it means there will be more scholarships available. $12,000 dollars going to one student could potentially be spread to 25 students, so I do think it will create more equity in how scholarships are dispersed. 

What would your life look like if you hadn’t received your scholarships?

I think it would be different. I may have had to choose a different university. There’s a chance I would not have been the first person in my family to go to university.

I think breaking those cycles of poverty is really important. I probably would have figured it out, but I would have had to rethink my path.

What are the benefits of technology such as Scholly in making the education system more affordable?

I think the biggest thing, is the money’s out there. We make it easy to find. 

We can’t guarantee you will get a scholarship, but we can make it easier for you to find.

Sallie Mae recently announced the Bridging the Dream Scholarship for high school seniors, awarding $250,000 in scholarships.

The Bridging the Dream scholarship recipients were selected from more than 1,100 applicants nationwide, and a majority are attending Historically Black Colleges and Universities.