Pay for School with GET
The current unit payout value is $111.03 through July 31.
The new payout value of $114.01 for the 2021-22 academic year goes into effect on August 1, 2021.
Is it almost time to start paying for college expenses? Requesting account distributions is easy to do by logging in to your online GET account.
- Students may use up to 200 units per academic year (plus rollover units from a prior year).
- Remember GET does not guarantee the unit payout value will exceed the unit purchase price at the time you use your units.
- Review the status of your account before paying for school with your GET units.
First, Ask Yourself These Two Questions:
- Are my GET units eligible for use?
Units become available for use on August 1 of the benefit use year listed on your account. The benefit use year is the year you anticipate your student will start college (typically the same year he or she graduates high school).
- Is my student enrolled in an eligible institution of higher education?
Remember that GET can be used to cover a variety of qualified higher education expenses at eligible institutions of higher education, including most accredited public and private universities and colleges, community and technical colleges and eligible apprenticeship programs.
To see if your student’s school is an eligible institution, we encourage you to use the FAFSA’s school search page (they use the same criteria that we do).
To look for registered apprenticeship programs, The Department of Labor provides a search tool.
If You Answered "Yes" to Both Questions:
Follow the steps below to request an account distribution to pay for college expenses.
- Log in to your online GET account
- Select Use Units
- Review your available unit balance and click “Request a new distribution” to start the process.
- Follow the easy steps to tell us where we should send your payment, where your student is attending college, what term the distribution request is for and how much money you are requesting.
- It’s easy for us to pay your student’s school directly by requesting a direct payment.
- If you already paid for the expenses, you can request a reimbursement to the GET account owner. If you request reimbursement for expenses incurred in a year prior to the current calendar year, your reimbursement may be considered a non-qualified withdrawal and the earnings portion may be subject to income tax and a 10% federal tax penalty.
- You’re all done! Just allow up to two weeks for us to process the payment.
If You Prefer Paper
You can also request account distributions by downloading and mailing paper forms.
Notes About Using GET Units
Whenever you withdraw funds, WA529 will send you a 1099-Q tax form the following January. For more details, read these Frequently Asked Questions about the 1099-Q form
GET units can be used to repay up to $10,000 on existing student loans. Learn more about the Secure Act.
Your GET account may have an impact on financial aid eligibility. However, 529 plans such as GET are typically considered parental assets (as long as the parent is the account owner), and often have minimal impact on financial aid eligibility. Contact your student’s school to learn more about the impact and how to report GET on the FAFSA.
Pay for School with DreamAhead
You can have payments directly made out to any eligible educational institution to pay a bill or tuition online, or by using our Withdrawal form.
Money from your DreamAhead account can also be used to pay for room and board during the academic period the beneficiary is enrolled at an eligible educational institution (postsecondary schools only). Keep in mind that the amount must be within the allowed Cost of Attendance (COA).
Books, computers, tablets and other study tools may also be deemed qualified expenses and eligible for reimbursement.
K-12 costs, international schools, apprenticeships and even existing student loan payments all may be considered qualified expenses. For more detail, please consult our DreamAhead FAQ page.
Whenever you withdraw funds, WA529 will send you a 1099-Q tax form the following January. For more details, read these Frequently Asked Questions about the 1099-Q form.