<p>will colleges care if you're first generation if your income is 200,000+?</p>
<p>First generation is much more powerful when you're low income, URM and attending an underperforming school. Kids already solidly in the upper middle class are not who benefit from the boost.</p>
<p>the colleges will be able to use you in their profiles (ie x number are first generation), so in that sense it will be beneficial</p>
<p>In today's economy, being able to list you as first generation along with the perception that you will pay full price may make you a more attractive applicant.</p>
<p>excellent :D</p>