Need Analysis: 2024-25
This self-study guide reviews the calculation of the student aid index (SAI) and includes a discussion of the SAI formulas and determining Federal Pell Grant eligibility. Bonus material: Included with this guide is an optional lesson on institutional methodology, developed in collaboration with the College Board. Completion of this self-study guide qualifies individuals to take the corresponding NASFAA Professional Credential test.
Free
Published February 2024
Learning Objectives
Lesson 1: Introduction to Need Analysis
- Understand what is need analysis;
- Know a brief history and the evolution of need analysis; and
- Understand the underlying principles of need analysis.
Lesson 2: The Student Aid Index Formulas
- Recognize the three formulas used to calculate SAI ;
- Identify the formula which should be used to calculate a student’s SAI; and
- Learn the steps used to calculate the SAI using the applicable formula.
Lesson 3: SAI and Pell Grant Eligibility
- Recognize the differences between the SAI formulas and the maximum and minimum SAI calculations;
- Be able to identify students whose SAI qualifies them for a maximum or minimum Pell Grant;
- Understand the eligibility criteria for an Automatic Pell SAI ; and
- Understand the eligibility criteria for the minimum Pell SAI.
Lesson 4: Institutional Methodology
- Identify the principles of IM and why schools use it;
- Understand the various IM data elements and hose schools might use them; and
- Recognize the differences between FM and IM calculations.