Programs to help you save for future education expenses
Washington's GET and DreamAhead 529 Plans
Washington State offers two 529 college savings plans. WA529 is the home of both GET 529 Prepaid College Tuition Program and DreamAhead 529 College Investment Plan. Learn more and sign up by visiting www.WaState529.wa.gov.
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).
- Governed by the Committee on Advanced Tuition Payment and College Savings on which the State Treasurer sits one of five board members.
- GET participants purchase tuition units that are redeemable in the future.
- Generally, 100 tuition units = 1 year of undergraduate in-state tuition and state mandated fees at Washington’s most expensive public institution.
- GET’s payout is guaranteed by statute (RCW 28B.95.050).
- Authorized by Chapter 28B.95 RCW and Section 529 of the IRS Code.
DreamAhead Program Facts:
- DreamAhead is Washington’s 529 College Savings Plan, opened in 2018.
- With DreamAhead you save money by investing in various investment options and the value of your account is tied to the investment performance. The account owner can choose from, change, and adjust investment selections and can even transfer the account to another eligible beneficiary.
- Governed by the Committee on Advanced Tuition Payment and College Savings (WA529 Committee includes 5 members).
Tax Benefits
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.
Use Nationwide
Both GET and DreamAhead can be used at nearly any public or private college and university including community and technical/vocational schools, nationwide and even some schools abroad. And, at apprenticeship programs in the US registered with the US Department of Labor.
History
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 Committee on Advanced Tuition Payment and College Savings (WA529 Committee). Its five members include State Treasurer Mike Pellicciotti.
Serving Washington families for the past 23 years, GET helps them save and prepare for the higher education needs of their children.
DreamAhead, the 529 College Investment Plan launched 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.