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Devin D. Thorpe

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Scholly Helps Lower Student Loan Payments

Developer of scholarship-matching app partners with CommonBond

The creators of Scholly — a web and mobile app that has helped students win over $35 million in college scholarships – have announced a new partnership with CommonBond, a technology-enabled lender specializing in making student loans more affordable. The program builds upon Scholly’s mission of helping students not only afford college, but also achieve their potential after graduation.

By using a special Scholly link, students can easily and quickly apply for refinancing with CommonBond that will lower their overall and monthly loan payments. On average, they will save $14,581 over the life of their loan, and enjoy lower monthly payments with interest rates starting at just 2.14% APR. As Scholly members, they will also receive an exclusive $100 bonus to be applied toward their first payment.

“CommonBond is a like-minded partner that shares our vision of helping students achieve their dreams,” said founder, Christopher Gray. “While our core strength remains in helping students pay for college by matching them with scholarships, we also recognize that loans are often necessary. We are proud to support the work that CommonBond is doing to lessen the burden.”

Headquartered in New York City, CommonBond believes that student lending should be more transparent, more affordable and more accessible online or via phone without excessive paperwork. The company uses its technology and data to help people refinance their student loans at a lower interest rate. The savings enable them to achieve goals such as saving for retirement, purchasing a home, starting a business or taking a dream vacation. As a leading values driven financial services firm, CommonBond offers the first “1 for 1” model in finance and education. As part of a “social promise,” for every loan funded, CommonBond also funds the education of a child in need.

Scholly is a seamlessly integrated mobile and desktop platform that helps students easily and quickly access scholarships that are often time consuming to access and find. In just minutes, it allows students to obtain their best individual scholarship matches by using a set of 8 parameters. Based in Philadelphia, Scholly is the brainchild of entrepreneur Christopher Gray, who created the app while still a student at Drexel University.

Gray, who grew up in an underserved community in Alabama, experienced first-hand the difficulty of finding funding for the education he desperately sought. Left to his own devices, Gray doggedly pursued scholarships (often applying on his phone since he had no computer at home – a tedious process). Ultimately, he won $1.3 million in scholarships.

Scholly, whose extensive database comprises both need-based and merit scholarships, also includes helpful tips for the application process, examples of successful essays, and a dashboard for saved dates and deadlines to track the application process

For further information, please visit www.myscholly.com.

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