Washington state’s prepaid-tuition program, called GET, has come under considerable fire recently. In the program, parents buy “credits” for their children’s university education at today’s rates, then redeem them years later, when inflation has made that same tuition much more expensive.
The credits are tied to the price of tuition, and the cost of tuition has skyrocketed in recent years. A full year’s tuition in the get program cost a little more than 7,500 just a few years ago.
Today, the same amount of credits covering a year’s tuition cost in excess of 17,000 dollars.
The issue has led to decreased participation in the GET program, and dire predictions from some of impending insolvency years down the road. Some Washington state senate Republicans have talked seriously about mothballing the program. GET Program Director Betty Lochner says that would be a bad idea, and explains to KOHO’s Clint Strand why she feels the program has a long-term future in the Evergreen State.