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The Spokesman-Review Newspaper The Spokesman-Review

Friday, October 30, 2020  Spokane, Washington  Est. May 19, 1883
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Washington state suspends popular GET college savings program

OLYMPIA – The state will suspend sales of prepaid college tuition units – called the GET program – for as long as two years while the group overseeing them wrestles with the downside of what many Washington lawmakers saw as a major legislative success: lower tuition at state colleges. The Guaranteed Education Tuition committee also signaled Tuesday the state would likely waive fees and penalties for investors who demand a refund of units purchased in recent years that are worth less now than when they were bought. That’s happening because the Legislature froze tuition for two years in 2013 and last month cut tuition between 5 percent and 20 percent for different schools over the next two years.