Going Merry was acquired by Earnest in 2021 and operated as a free consumer product subsidized by lender and institutional partnerships. When that subsidy structure stopped covering the cost of running the platform, the consumer side wound down. Five million scholarship listings did not get smaller. The bottleneck moved.
For families, the problem is not that scholarships disappeared. It is that a single tool that organized discovery, profile matching, and one-click application is gone, and the products still standing — Bold.org, Fastweb, ScholarshipOwl, the high school portal — are running on the same ad-subsidized model Going Merry just exited. Which means another reset is plausible on the same timeline.