The Gift of Education – Tuition Credits Sure to Make Your Season Bright

 

Submitted by GET

The holiday season is upon us, and along with it, the warmth of family, friends, food and fun! But the much anticipated festivities also present the perplexing, sometimes painful task of gift shopping. Love it or hate it, finding the right gift can often be, well, challenging. While I enjoy the festive sights and sounds of the stores during the holidays, I find myself overwhelmed with trying to find the right gifts and hoping they’re not sold out everywhere I go. You may share my sentiment and find yourself wishing gift-giving could be a bit easier.

My father started a GET account when each of our boys was born…financial freedom to pursue the education our kids desire is not easy nor always possible these days, so I’m grateful my father has given them that gift to do so.
-Denise R, Olympia

This year why not try something new – a gift that can be purchased from the comfort of your own home (no gift wrapping needed!) and is a gift that keeps on giving for years to come. If that sounds intriguing, you may want to take a closer look at the gift of education, by way of the Guaranteed Education Tuition (GET) Program. GET makes a great gift for young children and helps set them up for future success. Not only does GET help families reduce the future cost of college tuition by saving early, it sets a precedent that higher education will be an integral part of their child’s life. In fact, studies show that if children have a college savings account in their name and they know it, they’re seven times more likely to go to college.

Why the gift of education?
Having a college education is becoming more and more important to stay competitive in today’s workforce. Currently, about 59 percent of jobs require at least some postsecondary education. Projections show that by 2018, that number could reach as much as 63% of new job openings (according to a study by the Georgetown University Center on Education and the Workforce)! Unfortunately, as the demand for college educated workers is growing, so it the cost of attending college. Tuition is on the rise and doesn’t show signs of stopping anytime soon. Did you know that tuition at our state’s top public universities has increased on average by 10% a year over the last decade?  The thought of what the cost of higher education may be ten or more years down the road can seem overwhelming. But it doesn’t have to be, especially with the help of family and friends.

Why GET over another college savings plan?
GET is our state’s 529 prepaid tuition plan, where your account is guaranteed by state law to keep pace with rising tuition, no matter how much it increases in the future. GET offers flexible savings options, as well as tax-free growth and withdrawals. GET accounts can be used to attend nearly any college, university or technical school in the country. And unlike regular 529 savings plans, GET accounts are never subject to the ups and downs of the stock market.

Over and over again, GET customers say that this guarantee is what sets GET apart. They know they can put money away without the fear of it losing value. Here’s what Thurston County Families are saying about GET:

“The guarantee makes GET a lot more secure than other 529 plans. We know their college tuition is safe.”

 – The Freeby Family, Olympia

“The state guarantee means we never have to  worry about our children’s college savings.”

 – The Hurley Family, Olympia 

How do I get started with the gift of education?

For Giftors

The GET website has all the information you need to start giving the gift of education. Giftors can make a contribution of any amount to a child’s existing account online or by mail. All you need to know is the child’s name and GET account number. Grandparents can even open a GET account for a grandchild if the child doesn’t already have one. Details can be found on the GET website at: http://get.wa.gov/gift.shtml.

For Families with Young Children
Let relatives and friends know how they can get in on the action of helping your family save for college. GET makes is easy to spread the word.  Let grandparents, aunts, uncles, cousins and friends know by sending a customized “Suggest a Gift” email. 

GET’s Annual Enrollment Period is open November 1 – May 31st.
Enroll today and save your way to a bright future for your kids!
www.get.wa.gov

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