Dear friends and neighbors,
Don’t forget, this weekend I am hosting two town hall meetings. I hope you will join me for a productive and informative discussion about this year’s legislative session.
Tahoma School District Central Services
Saturday, April 29, from 9:30 to 10:30 a.m.
25720 Maple Valley/Black Diamond Road SE
Eagle Room at Issaquah Town Hall
Saturday, April 29, from 11:30 a.m. to 12:30 p.m.
130 E Sunset Way
Getting the most bang for your buck when saving for college
As a result of the Legislature lowering college tuition rates last year and the financial markets reaching record highs, the Guaranteed Education Tuition (GET) program – one of Washington’s college savings options – is now operating with a roughly $600 million surplus.
Currently, GET credits are valued at $117 per credit in tuition value. However, because of the surge in the markets, those credits are worth about $140 dollars in cash value. I believe that GET holders should be able to take advantage of the increased value of their investments.
I sponsored Senate Bill 5923 to allow GET credit holders to decide if they want to roll the full cash value of their GET credits into the new 529-college savings plan scheduled to open sometime this summer.
Ultimately, this is all about enhancing opportunities for families to save for their children’s futures. By creating an incentive for people to sign up for the 529 plan, we make that program viable. In the meantime, GET will continue to function as yet another reliable option for saving for college.
The bill has garnered bipartisan support and I am hopeful it gains traction during the special session.
Click here to read an article in the Seattle Times about my bill.
Thank you for your engagement,