$12,500	COA
-	2,500	SAI
-	5,500	Pell	Grant*
-	400	Scholarship
$4,100	remaining	need
*The	$5,500	Pell	Grant	amount	shown	in	this	example	is	for	illustrative	purposes	only	and	is	not	intended	to
represent	the	actual	Pell	Grant	amount	that	a	student	would	be	eligible	to	receive.	See	
Volume	7	for	guidance	on
the	determination	of	Pell	Grant	awards.
Subtracting	the	SAI	and	OFA	from	the	COA	leaves	$4,100	in	remaining	need.	The	student	has	sufficient	need	for
the	maximum	awards	that	the	aid	administrator	can	make	under	the	school's	policy	for	Campus-Based	funds:
$800	FSEOG,	and	$1,800	in	FWS	employment:
$12,500	COA
-	2,500	SAI
-	5,500	Pell	Grant
-	400	Scholarship
-	800	FSEOG
-	1800	FWS
$1,500	remaining	need
The	aid	administrator	finishes	the	packaging	process	by	awarding	a	Direct	Subsidized	Loan	in	the	amount	of
$1,500	to	fully	meet	the	student9s	financial	need.	As	a	dependent	second-year	student,	the	student9s	combined
Direct	Subsidized	Loan	and	Direct	Unsubsidized	Loan	limit	is	$6,500	(maximum	of	$4,500	subsidized).	The
financial	aid	package	now	fully	covers	the	student9s	financial	need	of	$10,000.	However,	the	student	could	also
receive	up	to	$2,500	in	Direct	Unsubsidized	Loan	funds	to	replace	the	SAI	and	completely	cover	the	COA.
$12,500	COA
-	5,500	Pell	Grant
-	400	scholarship
-	800	FSEOG
-	1,800	FWS
-	1,500	Direct	Subsidized	Loan
-	$2,500	Direct	Unsubsidized	Loan
$0	remaining	need
As	noted	earlier	in	the	chapter	a	negative	SAI	is	converted	to	zero	for	packaging	purposes.	For	instance,	if	a
student	with	$15,000	COA	and	a	-500	SAI	receives	a	$7,500*	Pell	Grant,	remaining	need	for	other	need-based
programs	will	be	$7,500:
$15,000
-	0
-	$7,500
$7,500	remaining	need
*Note:	The	$7,500	maximum	Pell	Grant	award	is	a	fictitious	amount	used	for	illustrative	purposes	only.	It	is	not
intended	to	represent	the	actual	maximum	Pell	Grant	award	for	any	particular	award	year.
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