Washington’s prepaid tuition program to consider changes
SEATTLE — The committee that runs Washington’s prepaid tuition program is meeting Tuesday afternoon to discuss possible changes to the program in the wake of a decision by lawmakers to lower tuition at Washington’s public colleges and universities.
The Guaranteed Education Tuition Committee will discuss four ideas to make sure recent investors in the program do not lose money.
Those ideas include:
Refunding a fee charged to investors who bought GET units during the past four years, which means their investment might not be as high as the current payout.
Allowing GET investors to withdraw their money from the program without suffering a state penalty.
Giving investors all their money back if they decide to withdraw.
Closing the plan to new investors for up to two years until they figure out what the tuition cut will mean.