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Prepaid Plan
Prepaid Plans let you pre-pay all or part of the costs of a college education. They may also be converted for use at private and out-of-state colleges. Because of the unique structure of these plans, they are not considered in our ratings methodology.
The GET Prepaid Tuition Plan (GET) is Washington's 529 prepaid college tuition plan that helps families save for future higher education expenses. The State of Washington guarantees that the value of your account will keep pace with the cost of college tuition, no matter how much it changes in the future. GET opened in 1998, and since then, over 67,000 students have used $1.5 billion in GET benefits to help pay for qualified higher education expenses at colleges, universities, and technical schools nationwide and around the world.
Program type
Enrollment period
Inception
State agency
Tax deduction
For single filers: None
For joint filers: None
State residency requirements:
Who can be a participant/owner in the program?
Significant time or age restrictions imposed by the program:
You can lock in tuition rates and lower your costs with a prepaid plan.
Prepaid tuition plans let you pay future college costs at today's prices, protecting against tuition increases.
Opening a prepaid plan is easy.
You can enroll by filling out the form on the plan's website.
Maximum contributions:
Minimum contributions:
Current value of one unit:
Current unit price:
Are program benefits backed by the full faith and credit of the state?
Are program benefits collateralized or guaranteed in any other way?
Enrollment or application fee:
Tax deduction for single filers:
Tax deduction for joint filers:
Note:
Program match on contributions:
State tax deduction or credit for contributions:
State definition of qualified expenses
State tax treatment of qualified distributions:
Does the sponsoring state exclude the value of an account for state financial aid purposes?
Does participation in the program provide beneficiaries with any advantages in qualifying for resident tuition status at state institutions?
Is there a rewards program or outside scholarship program that works with this program?
Statutory protection of an account from creditors:
Prepaid plans help you avoid market risk.
Unlike investment-based 529 plans, the value of your prepaid tuition plan won't fluctuate with the stock market, offering stability.
Opening a prepaid plan is easy.
You can enroll by filling out the form on the plan's website.
To whom are distributions made payable:
Policy regarding participant/owner changes:
Does participant have online password-protected access to account?
Can the complete enrollment process including funding be done online?
Website:
Telephone:
Social Media
Complete the online application and make your first deposit
A good place to start:
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Saving For College is an unbiased, independent resource for parents and financial professionals, providing them with information and tools to understand the benefits of 529 college savings plans and how to meet the challenge of increasing college costs.