My daughter is currently attending a Junior College. In two years, I expect her to be transferring to a 4 year college and my son to be starting at a 4 year college. When I fill out the Financial Aid Forecaster Application, it tells me my EFC is 2 million if I have only 1 child in school and 1 million if I have 2 children in school. Is that 1 million each child or 1 million total? Are their better financial aid packages for siblings going to the same school? (Obviously, my numbers aren’t real.)
It’s 1 million each child. I have heard that there may be some schools that offer sibling discounts (that is, a discount above and beyond what you would normally expect when you two kids in college at the same time), but I don’t think it’s very common.
That 50/50 EFC for two kids is for,the fafsa.
BUT for schools using the Profile…it’s usually 60/60.
There are some schools that offer a sibling discount. My daughter’s school does IF they both go to that school. The only discount you get for both in school at the same time is the EFC divided in half on the FAFSA, and any grants a private school would offer, usually off the CSS.
It would be 1 million per kid- 50/50 for the FAFSA. Schools that use the css profile will be a little different- closer to 60/60 as Thumper pointed out. Some schools use the EFC from the FAFSA but also require the CSS profile- my daughters school does this.
That embarrassing moment when you realize you used their, instead of there, in a forum about education. 
a very common error.
That million FAFSA EFC number means that you won’t qualify for any federal aid, except unsubsidized loans.
The actual cost of the school will be what they charge for tuition/fees/room and board, minus any merit scholarships.
So if you don’t want to pay full price at an expensive school, look at instate public options and schools where they could get merit.
@mommdc read the last line of of the OP…the million dollars is NOT their real number. It is what they chose to,use for an example.
But to @Redslp its pretty hard to give you decent advice when the sample you choose would put you totally out of the range for any need based aid…at all.
<<<<But to @Redslp its pretty hard to give you decent advice when the sample you choose would put you totally out of the range for any need based aid…at all.
<<<
True
If you gave us some estimates…such as:
FAFSA EFC for one in college, $80k per year. FAFSA EFC for two in college, $40k per year.
Thumper1 thanks for the advice. Our EFC for one in college is $40k per year, FAFSA EFC for two in college is $20k.
My daughter’s school gives a $2500 grant to each sibling in school at the same time. There is also a legacy grant and I think you can stack them all. Not a deal maker or breaker, but every little bit helps.
My friend went to the same college as her brothers. Her father bought them a house and they all lived in it while in college, rented out any extra rooms, saved money on traveling home, etc. My brother an I went to the same college at the same time and never saw each other.
So it’s $20,000 each kid, right?? With two in college.
That’s fine for FAFSA…but if your kids go to Profile schools…they will likely expect $24,000/$24,000.
Agree with above about 50/50 vs 60/60 for Profile schools, but I want to add something – a lot of Profile schools meet 100% need, whereas at FAFSA only schools it’s very possible you’ll be gapped. So, the difference in percentages may be irrelevant where your bottom line is concerned.
There are several hundred schools that use the Profile. Only a fraction of those schools meet full need for all accepted students.
Last I looked it was about 100 schools that meet full need, so it’s a large fraction 
My point was actually that FAFSA vs Profile percentages aren’t the whole story. I should have been clearer, sorry.
Agree with @Thumper1, I realize different venue, but Net Price Calc for Indiana was crazy. My EFC is in the $10k-$15k range. My S is a likely NM Finalist. The NPC came back with a cost to us of $41k! Needless to say that school dropped off our list.