I can't imagine needing separate cars for people, especially if you're going to live so close to campus that you can walk, take the bus, or call a campus cruiser for your commuting needs. I imagine that if I had a car, I'd just use it for groceries and long trips to visit the sights.
Are you thinking of selling one of the two cars before moving? Or are you asking about buying a car once you're here? Because waiting to know about your schedules and expected commutes would help you make the decision whether or not to buy a car. If I were to guess, however, I think one car is enough for two people, as long as one of those people can make their commute without one.