<p>Having one child, we did not have this situation. However we did set up a UGMA for tuition and our ds will be graduating in May with about $45k remaining which could come in handy for grad school.</p>
<p>If a family were in the situation of the family cited in the NYT article, the question I would have to ask is why each child is making the choice of what college to attend. If the child attending a public college made this choice to have money for grad school or begin adult life with a nest egg to invest, I would have a real problem asking him to fork the remainder over. </p>
<p>In any case, I would insist that child 2 be fully responsible for his tuition, fees, books and spending money. There is more than enough to fill in the gap between this and savings through merit aid, student loans and work(summer + school year). I know because we did it. The parents should be in a position to fund the room/board expenses since not one, but 2 children are living away from home. Until I, as a parent, was doing everything to assist child #2, asking anything of child #1 would be foolish imho.</p>