What state do you live in?
Also, you are a HS sophomore. By the time you apply to colleges in a couple of years, the family earnings will be at that amount for several years…at least.
And just for reference…the average FAMILY income in this country is in the $50,000 a year range. Your parents are earning four times that amount.
If your parents are not using a significant amount of their earnings to support exended family members, there is the chance that they can save for retirement and put a bit aside for your education. Find out what the estimated Cost of Attendance is for the most expensive public university in your home state, for the cheapest one, and for your local community college. Talk with your parents about saving an amount each year for the next few years that is the equivalent of the cost of the CC. Can they do that? If so, you would have some money available for college when you get there, and the total bill won’t be such a shock to everyone.
Have your parents save any college money in their name…not yours.
They’ve only recently began making a high income, initially we were poor for the majority of the time here, however, income steadily climbed over time when one of them received a promotion and the other finished a degree here.
I’m also in New Jersey.
If this is only recently high income, it may even be a better situation for you. Your family is used to living a frugal lifestyle. Suddenly there is more money. Save it! I did this. I continued to ‘live poor’ and was able to sock away a lot of money while my kids were in high school.
The most important thing for you to realize now, years before you need to go to college, is that you won’t qualify for a lot of need based financial aid. Look to schools that have big merit programs (Presidential scholarship, national merit, state grants), look at your instate options, carefully select colleges where you’ll be in the top of the class. Learn about loans and repayment. Thousands of colleges out there, find one that works for you. Look at the Ivy results for today - your chances are very very slim, even if you are first in your class and have perfect scores. Don’t box yourself in, apply to schools with good merit programs.