Washington State now offers two 529 college savings plans. WA529 is the home of both GET 529 Prepaid College Tuition Program and DreamAhead 529 College Investment Program. Learn more and sign up by visiting www.WaState529.wa.gov.
In 1998, with the Legislature’s passage of Second Substitute House Bill 2430 and subsequent signature by Governor Gary Locke, Washington State’s Guaranteed Education Tuition (GET) program was created. GET is Washington State’s 529 prepaid college tuition program. It is governed by federal IRS rules, Washington State law (RCW 28B.95) and policy established by the GET Committee. Its five members include State Treasurer Duane Davidson.
Serving Washington families for the past 17 years, GET helps them save and prepare for the higher education needs of their children.
DreamAhead 529 College Investment Plan launches November, 2018 and allows account holders to choose from multiple investment options to add flexibility in savings. Account holders can choose from a wide range of portfolios including stocks, bonds, and/or cash preservation funds with choices based on the student’s age.
Distributions from both GET and DreamAhead are tax-free if used to pay for qualified education expenses subject to certain additional restrictions. These expenses include tuition, fees, books, supplies, equipment, costs of special needs services, and — if enrolled on at least a half-time basis — room and board.
Can Use Nationwide
Although the value of your account is determined by tuition costs at UW or WSU, both GET and DreamAhead can be used nationwide at practically any public or private college, university or vocational school, and the monetary value remains the same.
GET Program Facts:
GET is Washington’s 529 Prepaid Tuition Program, opened in 1998.
With GET, you save money by prepaying part or all of your child’s college tuition costs now, to avoid paying higher costs in the future. The State of Washington guarantees the value of your account will keep pace with the cost of resident undergraduate tuition and state-mandated fees at the most expensive public university in Washington (typically the University of Washington or Washington State University).
Authorized by Chapter 28B.95 RCW and Section 529 of the IRS Code.
Governed by the GET Committee (5 members)
GET participants purchase tuition units that are redeemable in the future.
Generally 100 tuition units = 1 year of undergraduate tuition and fees at Washington’s most expensive public institution.
GET’s payout is guaranteed by statute (RCW 28B.95.050).