SEATTLE (AP) — A state committee is considering letting parents who invested in the state’s prepaid college-tuition program in recent years pull their money out without penalty.
The Seattle Times reports that the committee is also considering changes, including freezing sales of units in the state’s Guaranteed Education Tuition, or GET, program for up to two years.
The five-member GET Committee will consider the changes during a public meeting Tuesday in Olympia.
Washington runs one of the few college-savings programs in the country that allow parents to pay tuition in advance, but at a price that’s higher than the cost of tuition today.
GET director Betty Lochner says staff is recommending four steps so recent investors don’t lose money and so all investors get a chance to cash out without incurring penalties.