is there a certain amount of finacial aid one may receive for college?

You can only receive fiancial aid up to the COA or cost of attendance at the school.

Depends on the school. Many schools have a “top scholarship” of a certain amount. Many schools also have a full-paid tuition for different reasons (sports, academics, etc). It does vary by school though.

The amount you can receive from the government also varies.

Not really, Subsidized Student Loans and Pell Grants ect … will have a maximum that you can get per year but there is no limit to the number of scholarships that you can get. I had a roomate who’s scholarships ect paid for his classes, books, food, and he still had money left to buy beer.