That’s about 10% of the cost of one year. That means that bringing in only Pell students versus only “needs full aid but not Pell eligible” brings about a 10% shift in the overall scholarship budget. Those are extremes, and so unlikely to be realistic, but given the amount of money we are talking about in aggregate, that is not inconsequential.
My point is that schools who heavy pursue Pell eligible students to stretch their financial aid budget can end up with ONLY Pell students or full pay students — a barbell strategy. It can mean that being in between makes it harder to get in.