Scholarships are an incredible source of financial assistance for college students. Unlike loans, scholarship funds are free money. That means you don’t have to pay them back over time — an assurance that can vastly reduce financial stress and help you focus more on your studies. In fact, recent reporting from Forbes has shown that private scholarship recipients are more likely to graduate from college than those with just student loans. Financial aid and student loans are excellent sources of support, but college scholarships are one of the best ways to reduce the debt burden associated with pursuing higher education. If you’re on the fence about applying, here are a few more reasons to make scholarships part of your financial aid strategy.