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Example 2 After more thought, Anne decides she wants more than $4,000. She has a mortgage in good standing, and balances on more than one credit card, but she's a responsible borrower, and she's confident she can manage repayment with one of the many PLUS repayment options. She also knows PLUS lenders will consider only her credit repayment history, not her existing debts or income. Anne decides to get the maximum available to her. First she subtracts the Parent Loan Opportunity amount from Kelley's financial aid award. 23,000 - 4,000 = 19,000 "other aid" Then, she subtracts the remaining "other aid" from Kelley's Cost of Attendance: 31,382 - 19,000 = 12,382 Finally, Anne calculates how much to ask for to actually get that $12,382. She assumes a 3% fee, and subtracts 3% from 100%, getting 97%. She then divides the amount she wants by 97% expressed as a decimal: 12,382/.97 = 12,764.95 Rounding up in this case too, Anne knows she must apply for $12,765 to receive the $12,382 she wants. During the loan processing/certification phase, Saint Martin's will add 383.00 to Kelley's Cost of Attendance to make room for the fees
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