In the English language, a need is a deficiency in a person’s life that he or she feels is essential to his or her well-being. A need is different from a want, because a need is a necessity – a deficiency of a need results in an immediate and clear negative outcome. The lack of a need can cause life-threatening consequences, such as dysfunction or death. In addition, a need is necessary for a stable and safe life, while a want is a desire that has no real need.
To better understand what motivates people, Maslow developed the Hierarchy of Needs. According to this hierarchy, people are motivated by different needs, and certain needs take precedence over others. These five basic needs are physical health, safety, love, esteem, and self-actualization. It is important to understand that people tend to prioritize meeting their basic physiological needs before buying more luxurious or material goods. Listed below are the five categories of human needs.
After physiological needs are met, people desire predictability, control, and societal acceptance. These needs can be satisfied through society. Safety, belongingness, and financial security are some of the ways in which society satisfies our need for safety. The latter three factors are necessary for overall health and happiness. But not only are these factors important for physical health, but they also enhance our sense of belonging. In short, they are important for our survival.
In the case of money, we should not confuse a need with a want. A need may be an expense, whereas a want is a desire. The distinction between a need and a want is not always easy to make. The way you define your need and want depends on how you use these products. If you are working from home, for example, you may need home internet. However, if you are using it purely for entertainment, then you will need a need to have home internet.
In addition to addressing a student’s need, the federal government offers non-need-based financial aid to help students pay for college. The college calculates how much a student is eligible for with the need-based aid, and subtracts this amount from the cost of the school. Merit-based scholarships, on the other hand, are awarded to students who demonstrate their talent or academic excellence. In order to receive these funds, students must fill out the Free Application for Federal Student Aid (FAFSA) form. However, the early the application is, the better chances they have of receiving it.
Need-based financial aid includes merit-based scholarships, work-study, and federal student loans. Some Ivy League schools do not package student loans, which means that students may graduate debt-free. Applicants must complete a FAFSA or CSS profile to qualify for need-based financial aid. Many Ivy League schools do not offer merit-based scholarships, but they provide need-based financial aid to students who demonstrate a genuine need.