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The Today File

Your guide to the latest news from around the Northwest

Topic: Guaranteed Education Tuition

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September 4, 2014 at 5:24 PM

GET tuition plan has fully recovered, actuary says

The state’s prepaid college tuition is no longer underfunded, and has fully recovered from the recession. The Guaranteed Education Tuition Plan, or GET, as it’s known, now has enough money to meet all of its financial obligations, State Actuary Matt Smith said Thursday during a meeting of the GET committee. It’s the first time since the beginning of…

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Comments | More in Education | Topics: Guaranteed Education Tuition, prepaid tuition, tuition

December 5, 2013 at 5:02 PM

UW president critical of state’s prepaid tuition program

University of Washington President Michael Young took a swipe at the state’s prepaid college tuition program Thursday during a public interview with an Atlantic Magazine editor.

Answering a question about differential tuition before an audience of about 70 people, Young described how the UW has been unable to charge different amounts for different majors in part because of the state’s Guaranteed Education Tuition (GET) plan. He described GET as “a strange program — a Ponzi scheme, essentially,” which elicited a chuckle from the audience.

UW spokesman Norm Arkans said Young has used the phrase to describe GET before, and called it “a handy quip to explain what he perceives as the financial fragility of the GET program.” State Sen. Rodney Tom, D-Medina, also described it as a Ponzi scheme earlier this year.

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Comments | More in Education | Topics: Guaranteed Education Tuition, Michael Young, University of Washington