Possible save for Washington’s GET program
Jan 31, 2013, 6:32 AM | Updated: 6:44 am
A lot of parents are worried the money they’ve put in that state’s Guaranteed Education Tuition program won’t be there when their kids are ready to go to college, but a state analyst has a plan to save the day.
If everyone cashed out today, the GET program would be about $600 million short. State actuary Matt Smith said that number would drop to just over $100 million if the state’s universities simply froze their tuition for the next two years.
The Seattle Times reports the universities have offered to freeze their rates, but only if lawmakers find more than $200 million for them in the budget.
More than 120,000 families in Washington are in the GET program which lets them pay today’s rates for future tuition. Actuary Smith will testify at the legislature Thursday.
Lawmakers are also considering whether to close the program to new applicants.
