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…More
Topic: Guaranteed Education Tuition
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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.More