Status of GET and DreamAhead – Washington’s two college savings plans – after $1 billion shift
Washington's new DreamAhead savings program for education expenses has nearly a billion dollars in it, most of it a result of transfers from accounts in another state plan, the Guaranteed Education Tuition (GET) program.
More than a quarter of the accounts in GET were closed this year and the value of units in those accounts transferred to the new program, lawmakers were told recently.
The shift, known as a rollover, came as the state offered incentives to GET participants who were worried about losses in their investments after several years of large tuition raises, followed by a tuition cut then a tuition freeze.
After two years of uncertainty over college programs, the state has gone from one suspended plan to two operating plans.
Return to 529 News centerMore than a quarter of the accounts in GET were closed this year and the value of units in those accounts transferred to the new program, lawmakers were told recently.
The shift, known as a rollover, came as the state offered incentives to GET participants who were worried about losses in their investments after several years of large tuition raises, followed by a tuition cut then a tuition freeze.
After two years of uncertainty over college programs, the state has gone from one suspended plan to two operating plans.