Guaranteed Education Tuition
The GET program provides Washington families a secure and affordable way to save for college. The program benefits the state by improving access to higher education, leading to a better educated and more financially secure workforce.
GET’s unit price is based on a complex actuarial formula that includes estimated future tuition, projected inflation and investment returns, and administrative costs. It also includes amortization of past losses and a stabilization reserve to adjust for periods of lower-than-expected returns or higher-than-expected tuition. The State Actuary provides critical review and analysis to aid the GET Committee in setting the GET unit price.
The Committee for Advanced Tuition Payment, better known as the GET Committee, governs the program, ensuring that participants are protected and that the program remains financially sound. The committee meets quarterly to discuss legislative activities, review program policies and investments, and make program decisions. Annually, the committee sets the GET unit purchase price.
The five-member committee consists of the executive director of the Washington Student Achievement Council, the State Treasurer, the director of the Office of Financial Management, and two citizen representatives, currently Elizabeth Stecher Berendt and Mooi Lien Wong. The State Actuary and GET’s State Investment Board liaison provide expertise and advise the committee as needed.
More information about GET can be found on the GET website.
2014 Committee Meeting Materials
Committee Meeting Materials Archives