Does anyone have experience having two kids in college and one of them is a graduate student? I called the undergrad (private school) financial aid office, and they said they do recognize the older sibling a second child in college (and hence reducing the EFC for the undergrad) as long as the older student is still a dependent. The older student is pursuing a science PhD so many of her expenses will be covered, but we still plan to help her get a car, set up an apartment, pay for health and car insurance, etc. Do colleges require you to keep track of how much of that child's expenses you cover? How much longer can we declare her as a dependent? What are the pros and cons for her and us in terms of her becoming "independent" and when and how do you make that transition, especially if because of her, the younger student does have "financial need"? Any thoughts or experience with this scenario?