Washinton’s GET Program Begins New Year Under Scrutiny

SEATTLE — As Washington’s prepaid tuition program opens its doors to new investors today, parents and lawmakers are taking a closer look at the program and trying to decide what is best for the state and its children.

As they have every year since the recession began, lawmakers are talking again about changing the Guaranteed Education Program to improve its long-term viability and to give Washington’s universities more tuition flexibility.

The program is underfunded by $631 million, which means it doesn’t have enough money to meet all its obligations if every kid enrolled decides to go to college next year.

But since preschoolers and kindergarteners are unlikely to make that decision, the people who manage Washington’s prepaid tuition program say that’s unlikely to be a problem.

“Nothing has changed,” maintains Betty Lochner, director of the Guaranteed Education Tuition program. “The model works.”

Parents and grandparents who use Washington’s program to save for college are guaranteed that they will have that money to pay for college when their kids graduate from high school.

The program doesn’t aim to be more than a way for parents to have peace of mind about their ability to pay for college eventually, as well as a way to save money on college tuition if they invest early enough, Lochner explains.