Earnest And Going Merry Join Forces To Expand Access To Free Scholarship And Financial Aid Tools For Students

Rhea-AI Summary

Earnest has acquired Going Merry, a platform providing students access to scholarships and financial aid tools. This acquisition aims to enhance Earnest's offerings in education finance, enabling better access to financial aid opportunities for students. Going Merry, used by over 50% of US high schools, has helped students secure nearly $100 million in additional financial aid since its inception in 2017. The combined resources will provide tools for financial aid analysis, budgeting, and loan comparison, reinforcing Earnest's mission to make education affordable.

Positive

• Earnest's acquisition of Going Merry expands its educational finance offerings, enhancing access to financial aid tools.
• Going Merry has facilitated nearly $100 million in financial aid for students since 2017, indicating strong market relevance.
• Integration of resources will improve student assistance in navigating financial aid and budgeting for college.

Negative

• None.

SAN FRANCISCO, Sept. 15, 2021 /PRNewswire/ -- Earnest, a fintech company dedicated to making higher education accessible and affordable for everyone, today announced the acquisition of Going Merry, a one-stop financial aid platform where students match to and apply for scholarships, institutional aid, and government grants through a single free application.

Going Merry's robust library of financial aid tools will be available alongside Earnest's existing platform of student loans and student loan refinancing offerings to bring more financial aid opportunities, budgeting insights, and financial aid comparison tools to students and borrowers.

"Going Merry's mission to give every student equal access to life-changing education aligns perfectly with Earnest's mission to make higher education more accessible and affordable for everyone," said Going Merry CEO Charlie Maynard. "Joining forces with Earnest will enable us to expand our services, reach more students, and help them make more informed decisions about their financial futures."

Going Merry is used by students at over 50% of high schools across the U.S. Since its founding in June 2017, it has helped students secure nearly $100 million in additional financial aid by simplifying the application process. Its free software makes it faster and easier to apply for scholarships and grants, enabling students to submit nine times as many applications as the national average. In addition, 1 in 5 high school counselors use the Going Merry platform today to manage local scholarships and support their students' financial aid progress.

As well as connecting students with financial aid options, Going Merry provides tools to analyze financial aid offers, compare the true cost of different colleges, budget for various costs associated with a college degree, and learn more about student loans, repayment, refinancing, and more. These tools, combined with Earnest's industry-leading lending products, will accelerate Earnest's charge to help students start on the right financial trajectory sooner.

"Navigating the world of higher education and financial aid can be intimidating, and it has only become more complex throughout the course of COVID-19," said Earnest CEO David Green. "Now more than ever, it's important that students have the right easy-to-use information at their fingertips. This acquisition represents an important step forward in helping students reduce the total price tag of their education. We are delighted to welcome Going Merry to the Earnest family and look forward to working together to make finding the right financial options even easier and more accessible to every college-bound high school student."

For more information about Earnest, visit www.earnest.com.

For more information about Going Merry, visit www.goingmerry.com

About Earnest

Earnest is a fintech lender focused on education finance, whose mission is to make higher education accessible and affordable for everyone. Founded in 2013 on the belief that financially responsible people deserve better options and access to credit, Earnest's lending products empower anyone seeking higher education to reduce the total price tag of their education, supercharge their ability to pay down student debt, and get on the right financial track fast. Earnest is a subsidiary of Navient (NASDAQ: NAVI). Learn more at earnest.com.

About Going Merry

Going Merry is a financial aid platform used by students in 50% of US high schools. It gives students one place from which to apply to government grants, private scholarships and institutional aid. Founded in 2017, it has helped students receive close to $100 million in additional financial aid. Its team comes together from different backgrounds and skill sets but shares the same mission: to give every student truly equal access to life-changing education.

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/earnest-and-going-merry-join-forces-to-expand-access-to-free-scholarship-and-financial-aid-tools-for-students-301377278.html

SOURCE Earnest

FAQ

What is the significance of Earnest acquiring Going Merry?

The acquisition enhances Earnest's financial aid offerings, making it easier for students to access scholarships and financial tools.

How much financial aid has Going Merry helped students secure?

Going Merry has helped students secure nearly $100 million in additional financial aid since its founding in 2017.

Which high schools use Going Merry?

Going Merry is utilized by students in over 50% of high schools across the U.S.

When was Going Merry founded?

Going Merry was founded in June 2017.

How will the acquisition affect Earnest's services?

The acquisition will bolster Earnest's capabilities by integrating Going Merry's financial aid tools with its existing loan and refinancing products.