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Welcome Parents and Grandparents

Welcome Parents and Grandparents. What is GET. Washington’s 529 Prepaid College Tuition Plan Guaranteed Education Tuition (GET) Program The GET Program serves Washington families by offering a guaranteed way to save for college tuition.

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Welcome Parents and Grandparents

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  1. Welcome Parents and Grandparents

  2. What is GET Washington’s 529 Prepaid College Tuition Plan Guaranteed Education Tuition (GET) Program The GET Program serves Washington families by offering a guaranteed way to save for college tuition. We are committed to providing exceptional customer service and supporting student success

  3. Features & Benefits Guaranteed: Washington State guarantees thatthe money you save will keep pace with rising tuition. Use it anywhere: GET units can be used at colleges, universities and vocational schools nationwide. Tax exempt: GET accounts offer tax free growth and withdrawals. Flexible: Units can be transferred, put on hold, or even refunded if family circumstances change.

  4. How does GET work? • GET works on what is called a unit system • Units refer to a form of measurement • 100 units represent an academic year at ….. • It is the monetary value of your account. What they are worth in the future.

  5. Flexible and Easy to Use • Student can have 1 to 500 units • Student can use up to 125 units per academic year • Use them practically anywhere, for eligible expenses • Private University? Just pay the difference • Community, vocational or qualified trade college? Use for ……... • Room and Board • Books and required supplies • Other fees or qualified expenses

  6. Ways to Save • Lump Sum Plan • Contribute any dollar amount • Contribute whenever you want • Unit price changes every year • Custom Monthly Plan • Select the number of units • Select a payment term • Scheduled monthly payment • Payment does not change

  7. More Ways to Save • Combine Custom Monthly & Lump Sum • Regular monthly payment, contribute extra when you can • Extra contributions are as lump sum • Gifts from family • Everyone can help! • Gift certificates are online

  8. When it’s time for college • Apply • Acceptance • Register • Pay with GET • Intent to enroll • Direct payment or reimbursement request

  9. What if … • My child gets a scholarship? • Decides not to go to college? • We move out of state? • Our financial situation changes?

  10. Getting started • Open an account • Choose a plan • Start saving! • Enroll online at www.get.wa.gov • Questions? Contact Customer Service • GETInfo@hecb.wa.gov • 1.800.955.2318

  11. Other Options for Help • Higher Education Coordinating Board - www.hecb.wa.gov • IRS 529 College Savings Plans – www.collegesavings.org • Coverdell Education Savings Account – Open through bank, mutual fund or brokerage house. • Custodial Account (UGMA/UTMA) – Open through mutual fund or brokerage house.

  12. Why is it important to save? • Preparation • Peace of mind GET is a strong foundation for your college savings plan … because it’s guaranteed.

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