Washington families still have time to start saving for future education costs with Guaranteed Education Tuition (GET), the state’s 529 prepaid tuition program. The 2023-2024 annual enrollment period closes on May 31, 2024.
This year, the purchase price of a GET unit exactly matches the payout value, which provides a unique opportunity to prepay future tuition costs by locking in today’s rates. Once a GET account is open, the last day to add units to an existing account at the current price of $120.16 is June 25, 2024.
GET is a 529 prepaid tuition program, carrying a state-backed guarantee that units purchased today will always keep pace with in-state college tuition costs. But while GET account values are based on Washington tuition rates, students have the freedom to follow their ambitions wherever they choose. “Whether your student’s future plans include college, trade school, or another form of career-readiness training, GET is a great way to ensure those dreams become reality,” says Washington College Savings Plans director, Luke Minor.
Savings in GET grow tax-free and are not subject to the ups and downs of financial markets, so families can save with confidence. “The current economic environment is an important reminder of the unique value that GET can provide a family looking for peace of mind as they prepare for their student’s educational future,” says Minor.
The Guaranteed Education Tuition (GET) program is one of two college savings options offered by Washington College Savings Plans (WA529). GET opened in 1998, and the DreamAhead College Investment Plan was launched in 2018 to create additional choice and flexibility for families as they plan for future education costs. To date, GET and DreamAhead have distributed more than $2 billion to 82,000+ students who have used their WA529 accounts to attend higher education in all fifty U.S. states and at least 15 countries worldwide.
WA529’s website (529.wa.gov) offers details, charts, planning tools, and answers to questions that families may have about either program. Accounts can be opened online, and the GET Contact Center is ready to help at (800) 955-2318 or GETInfo@wsac.wa.gov.
