There's a "catch" in the NCAA Division I guideline that makes it SEEM like schools follow various policies with regard to blending. This "catch," which I copied from the regulation in the attached link, stipulates that academic money can only be "blended" with an athletic grant without it being counted against the 11.7 limit if the academic money is "part of an institution's normal arrangements for academic scholarships, awarded independently of athletics interests and in amounts consistent with the pattern of all such awards made by the institution." In other words, the granting of the academic money has to be consistent with that which would be awarded a student who is not an athlete.
The obvious effect of this clause is to make it extremeley difficult for the best schools academically to "blend" academic and athletic awards. Since the average student receiving academic aid likely has a stronger academic profile than many of the school's baseball players, most efforts to exclude academic aid to baseball players would run afoul of this clause.
HSBaseballWeb Page on "Scholarship Blending"