The deadline to file a FAFSA for college students who need federal financial aid is approaching and there are some tips on how to file it and what to look out for.

FAFSA is an acronym for “Free Application For Student Aid” and offers $150 billion in federal financial aid to college students.

New and easy this year, students can file a FAFSA using an Apple or Android smart phone by downloading the My Student App and submitting it through there or online at www.studentaid.gov.

Students should evaluate financial aid packages carefully that are offered by schools and know that one offering a larger sum of money isn't always the better one.

Ashley Boucher, Spokesperson for Sallie Mae said, "You might have an award package that looks large but it might be made up mostly of federal loans and when comparing that with what looks like a smaller package but is consisting of mostly scholarships that might be the better package for you because it contains the most amount of money that you won't have to repay."

The deadline for students to submit a FAFSA is Friday, March 1st.

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