This is better for r/New York, fatfire or chubbyfire. You have one child for now - is the plan to have more and do this with more? What does your NW look like (ie. Are you on schedule or behind schedule in terms of NW vs income)

High level, yes people do this with your income, but not everyone (idk, maybe this is one of those where people are likely 50/50 split at this income level). But if education is important to you / family, then go for it. Part of high income is spending on the things you want to. It’s up to you to decide if it’s worth it, what kind of impact it could have on your other spending, retirement planning, etc.