- Parents and students have the primary responsibility for meeting postsecondary education costs.
- The distribution of financial aid resources should be based on the family's ability to pay, not willingness to pay.
- The assessment of a family's ability to pay should be independent of the amount of financial aid available and the cost of attending postsecondary school.
- There should be horizontal equity (also referred to as equity across the board) in the distribution of limited financial aid resources. That is, families in similar circ*mstances with similar resources should be expected to make similar contributions.
- Families in different circ*mstances should be expected to make contributions appropriate to their financial resources. This is known as vertical equity, and is sometimes referred to as leveling the playing field.
- The need analysis formula should provide a "snapshot" of the family's financial circ*mstances at the time of application.
- The need analysis results are a benchmark. As such, the final assessment of the family's ability to contribute to the student's postsecondary education costs is subject to the professional judgment of the financial aid administrator.
FAQs
What is the principle of needs analysis? ›
Needs analysis is defined as a formal process focus on how a product addresses the needs of a human. It is not an official business development tool, but is considered a valuable analytical technique to better gauge the marketability of a product or a service to a human consumer.
What are the 4 stages of needs analysis? ›Phase 1: Understand Short and Long-Term Business Goals. Phase 2: Identify the Desired Performance Outcomes. Phase 3: Examine the Current Performance Outcomes and Identify Gaps. Phase 4: Establish and Prioritize a Solution.
What are the principles of need? ›Roughly stated, a principle of need prescribes that one satisfy needs and prioritize individuals with the highest, or the weightiest, most severe, needs. In order to understand and use this principle, one must know what need is and how to establish its degree, or weight, of severity.
What are the basic concepts of needs analysis? ›A needs analysis defines deficiencies or problems and identifies causes and solutions. It can be thought of as the process of identifying gaps between what should be happening and what is happening, and accounting for the causes of these gaps.
What are the three major components of a needs analysis? ›Needs assessment contains three parts: organizational analysis, task analysis, and person analysis. Organizational analysis assesses the organization's strategies, goals, and performance to determine where the training should be applied or what it should accomplished.
What is an example of a needs analysis? ›For example, say your team is working on a process to organize customer data. A needs assessment would be a great way to understand where gaps exist in the data collection process—such as missing or inaccurate information—and where internal resources could be better utilized.
What is the needs analysis theory? ›Needs analysis refers to the activities involved in gathering information that will serve as the basis for developing a curriculum that will meet the learning needs of a particular group of learners.
What are the principles of need theory? ›Maslow's theory is based on two principles. Progression principle suggests that lower-level needs must be met before higher-level needs. Deficit principle claims that once a need is satisfied it is no longer a motivator because an individual will take action only to satisfy unmet needs.
What are the 4 main principle? ›The 4 main ethical principles, that is beneficence, nonmaleficence, autonomy, and justice, are defined and explained.
What is the needs analysis method? ›Needs analysis is the process of identifying and prioritizing the gaps between the current and desired performance of a business, its employees, or its customers. It is a crucial step for designing and implementing effective solutions, such as training, coaching, or product development.
What exactly does needs analysis involve? ›
Needs analysis is the process organizations use to identify deficiencies or problems of an organization and pinpoint the root cause to provide the most appropriate solution.
What is the best definition of a needs analysis? ›A needs analysis is a formal, systematic process of identifying and evaluating training that should be done, or specific needs of an individual or group of employees, customers, suppliers, etc. Needs are often referred to as “gaps,” or the difference between what is currently done and what should be performed.