Need Analysis
NASFAA’s Professional Credentials provide financial aid administrators and professionals in related fields the opportunity to earn tangible recognition for mastery of content pertaining to federal Title IV aid administration. To earn this credential, candidates need to know the underlying principles of Title IV need analysis leading to the determination of the student aid index (SAI), including the three formulas used to calculate the SAI and the qualifications for a maximum or minimum Pell Grant. Holding this credential demonstrates the ability to ensure the use of accurate and appropriate SAI calculations, which directly affects the equitable distribution of financial aid funding.
Earning Criteria
Recipients must complete the earning criteria to earn this badge.
General Requirements
Financial aid professionals can qualify to sit for a test in at least one of the following ways:
- Complete an independent study on specific topics using a Self-Study Guide
- Take an instructor-led NASFAA U Online Course
- Demonstrate five or more years of well-rounded professional experience
- Attend a NASFAA U Authorized Event that uses the approved NASFAA curriculum
Assessment
The range of topics in this test include:
- General Concepts of Need Analysis (Federal and Institutional Methodology)
- The Student Aid Index Formula
- SAI and Pell Grant Eligibility
Tests may include questions pertaining to a variety of program structures, such as credit- or clock-hour, term or nonterm, standard or nonstandard term, undergraduate or graduate/professional programs, and programs of various length (shorter than one year, two-year, four-year, certificate, etc.).
NASFAA Professional Credentials do not expire; however, credentialed professionals may renew each credential. NASFAA recommends renewing credentials every three years, barring any major regulatory changes. Renewal is not mandatory.
Learn more about NASFAA’s Professional Credentials
