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No there is no cost for FAFSA. If you are being charged you are at the wrong FAFSA site (.com instead of .ed.gov).
There is not a maximum but you can only do a certain number at a time (6 I think) then have to submit and go back in and change and resubmit. I am not sure exactly how as we were not over 6 but I am sure someone here can tell you.
After submitting the first group, wait until FAFSA notifies you that they have been processed (usually within a week). Then go back to the FAFSA website and choose the option to "add or delete a school code".
