Washington Keeps Moving Toward New College Savings Plan

SEATTLE (AP) — While Washington's prepaid tuition program remains on hold, the state took some small steps toward opening a second college savings plan this week.

The Senate Ways and Means Committee on Tuesday passed a bill that would establish a more traditional 529 savings plan.

When the committee that runs the Guaranteed Education Tuition program met on Thursday, they discussed more details about how that program might be set up but took no action.

The director of the GET program said they would be able to take the next steps when the committee met on April 20 because it would likely know if Senate Bill 6601 passes.

Meanwhile, nearly $164 million in refunds have been processed for Washington's prepaid tuition program since the state agency told people in September they could ask for their money back.