<p>Your income of $200,000 is about 3 1/2 times the annual family income in this country. You need to have a discussion with your family regarding what they will provide annually for your college education expenses. You don’t have enough information here to even know what’s what. Perhaps your family has a huge college (or other) savings that they have set aside for college for you and your sister. Perhaps your parents are planning to take out home equity or PLUS loans to assist you. Perhaps they are only able or willing to contribute a small amount annually. </p>
<p>You need to get a financial answer from your parents (without guessing) BEFORE you apply to colleges.</p>
<p>The financial aid calculators do not consider future siblings’ college expenses…only expenses of siblings enrolled in college at the same time as you.</p>