Washington 529 Plans
The Washington state 529 plan is called WA529. It has both the 529 college savings plan called Get, and a prepaid plan called DreamAhead. Both plans are administered by the Washington Student Achievement Council with oversight from both the WA529 committee as well as the committee on advanced tuition payment.
Washington 529 Get Prepaid Plan - plan type 1
- Washington is one of the states that offers prepaid 529 plans
- Account Values are calculated in units, not shares
- 100 units equals the cost of 1 year of resident undergraduate tuition at the highest price university in the state of Washington
- Partial or whole units can be bought
- Account owner (parent, relative, or friend) or the beneficiary must be a Washington resident when you first enroll in Get Plan
- Money grows tax free and can be withdrawn tax free if used for higher education expenses, such as tuition, books, room and board, and other qualified expenses
- Units can be used in the United States and around the world
- Guaranteed by the state of Washington to keep pace with Washington’s most expensive public university’s tuition and fees
- The GET plan is not subject to stock market fluctuations
- The Washington 529 plan is called WA529
Washington 529 Plans Enrollment Portfolios - plan type 2
- Automatic rebalancing means as the beneficiary gets closer to college, the portfolio shifts towards more conservative assets
- Good for investors who would rather take a hands off approach to investing and let the professionals handle the portfolio
Washington 529 Plan Static Portfolios - plan type 3
- Owners of the Washington Dream Ahead 529 plans can select from 7 different static portfolio options
- The static portfolios do not rebalance according to the beneficiary’s age like the enrollment portfolios
- Gives owner more flexibility in determining the asset allocation of the portfolio