The boyhood Latics fan was interviewed for the position but missed out to caretaker boss Richie Wellens after he masterminded four wins from four matches.
Scholes said: "I had a good chat with Mark (Moisley), the chief executive, and Simon Corney the owner. Talks went very well.
"I'm sure they interviewed quite a few people. It was something I was very interested in but Rick Wellens had done so well, they couldn't ignore that.
"He's brought a really good style of football, something Oldham fans haven't been used to for quite a while. I lost out but hopefully Rick will take them on and he can be successful."