How does financial aid work when multiple children go to colleges at the same time? Say, when the first child goes to college, total expenses are $40,000 and the family EFC is $50,000. So, no aid is given. Now, the second child goes to college and let's assume his expenses are also $40,000. Total expenses come out to $80,000 while the EFC stays at $50,000. Does it mean an aid of $30,000 will be given and shared by the two schools? Thanks.