Many parents in the Pacific Northwest choose to start saving early for their children’s education, including participating in Washington state’s Guaranteed Education Tuition (GET) program. However, as tuition starts lowering with the College Affordability Act, the state felt it was necessary to reevaluate the GET program. Board members announced this August that they would be implementing steps to protect participants who bought into the program and assumed tuition would rise. The plan, which goes into effect on August 19th, includes the following:
- Refunds on amortization fees for investors who purchased credits after 2011
- Reimbursements for GET credits bought after July 1st, 2015, and
- Two-year suspension of new enrollments in the program.
Looking to find out how these updates affect you and your savings? The GET Committee provided the following frequently asked questions about what lower tuition means for the program:*READ MORE