In practice, your offer depends on the basic laws of supply and demand: If multiple buyers are competing for a home, sellers will likely get full-price offers and a house may go for over asking price. If demand in your area is weak, an offer below the asking price might be a savvy strategy.
Award Amounts. For full-time students, the maximum award amount is $5,550 and the minimum amount is $1,176. Part-time students receive reduced amounts depending on whether they enroll quarter-time, half-time or three-quarter-time. Half-time students are eligible to receive half of what full-time students receive: a maximum of $2,775.
The EFC eligibility cutoff is currently set at 90 percent of the maximum Federal Pell Grant, rounded up to the nearest whole number. The minimum Federal Pell Grant is 10 percent of the maximum Federal Pell Grant. The maximum Federal Pell Grant is $5,645 in the 2013-2014 award year.