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.
It is for a year. It will be divided between semesters (or quarters). Yes, that is a Pell grant and that is the amount per year, not per semester, based on full-time enrollment. In addition to the $5500 Pell Grant, you will also receive a $5500 Stafford loan for your freshman year.