Washington College Savings Plans

Washington College Savings Plans, or WA529, is a collection of 529 college savings plans offered by the State of Washington.

WA529 is composed of the Guaranteed Education Tuition, or GET Program, which entails paying tuition in advance at a set price. Value is guaranteed to keep pace with in-state college tuition.

WA529 Benefits

– College savings reduce the need for student loans in the future.

– College savings help motivate your child toward higher education—students who know they have a college savings account are more likely to attend college.

– GET accounts are protected by state law (unique among state-sponsored 529 plans). You can pay a set price now and over time for future tuition. The value is guaranteed to keep pace with tuition, no matter how much it changes in the future.

– Both DreamAhead savings and GET units can be used nearly everywhere—including out-of-state institutions, private schools, community colleges, and even at trade and technical schools. Since 1998, more than 55,000 students have used GET in all 50 states and 15 countries worldwide. 

– If your child gets a scholarship, or decides not to go to college, you can use your funds for room and board, books and other qualified higher education expenses; you can request a refund, or you can transfer the account to another relative of the child (even yourself).

DreamAhead is a 529 college investment plan whose investment returns are tied to financial market performance. Account owners select one of two saving options: year-of-enrollment portfolios where investments automatically adjust over time, or static portfolios, that let you set your investment strategy and stay the same until you make changes.

These two plans offer Washington families a flexible set of college savings options. Families can choose GET, DreamAhead, or both. Neither plan charges an enrollment fee for enrolling online, so it’s easy to start an account.

What’s New for 2020

The SECURE Act, enacted at the end of 2019, includes new provisions that allow 529 Plan account owners to withdraw assets to pay for certain apprenticeship programs, and to pay principal and interest on qualified higher education loans for the beneficiary or any of the beneficiary’s siblings. For more detailed information on this change, visit: get.wa.gov/Secure_Act

Compare Washington 529 Plans | wastate529.wa.gov

GET 529 Prepaid Tuition Program | get.wa.gov

DreamAhead 529 College Investment Plan | dreamahead.wa.gov

KELLY LENIHAN