A school is requiere to have its floor strip and wax and they say they got a bid for $900 is this possible

That does not sound at all possible to me. You should ask to see the actual quotation they got for this price. That is a big area to strip of all old wax and lacquer, and refinish. Would be interesting to find out how many men will be working for how many hours to do a job like that for 900.

What type of floor is it ?