The Guaranteed Education Tuition (GET) Program is closed to new unit sales in response to the College Affordability Act, which lowered tuition at Washington's public higher education institutions. Continued payments on installment plans established prior to July 1, 2015 will be allowed.
- Summary: The Guaranteed Education Tuition (GET) Program is closed to new unit sales in response to the College Affordability Act, which lowered tuition at Washington's public higher education institutions. Continued payments on installment plans established prior to July 1, 2015 will be allowed.
- Program type: Prepaid unit / Guaranteed savings
- Enrollment period: The most recent enrollment period was November 1, 2014 through May 31, 2015.
- State residency requirements: The account owner or the beneficiary must be a Washington resident at the time of program enrollment.
- Maximum contributions: $86,000.00 for 500 units, installment payments available.
- Minimum contributions: One unit ($172 through May 31, 2015).
- Current value of one unit: The GET Program has historically provided that each unit acquired in the program is worth 1% of the resident undergraduate tuition at the highest-priced Washington state public university and may be redeemed at any eligible educational institution in the country.
Based on the passage of the state's College Affordability Act, effective September 2, 2015, the payout value for the GET program will remain at $117.82 per unit until the time when one-year of resident undergraduate tuition and state mandated fees at Washington State's highest priced public university surpasses $11,782.
Account owners who wish to withdraw from the program will receive a refund of their contribution or the payout value, whichever is greater. Refund fees and the two-year hold requirement will be waived. The program will also refund the amortization fee paid by account owners who have unredeemed units at a purchase price of $163 or greater.
- Current unit price: $172.00 through June 25, 2015.
- Are program benefits backed by the full faith and credit of the state? Yes
- Are program benefits collateralized or guaranteed in any other way? No
- State tax deduction or credit for contributions: Not applicable. Washington does not have a personal income tax.
- Web site: Click here to visit
- Telephone: 1-800-955-2318
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