In this article we focus on how to build a college list while keeping costs in mind. There are many factors to consider, including academics, campus life, and college affordability. Used with permission.Building a strong college list is an important part of ensuring that you have several options to choose from when making your college decision. All other trademarks, service marks or registered trademarks are the property of their respective owners. None of the State of Washington, its agencies, Sumday, BNY Mellon Advisors, nor any of their applicable affiliates insures or guarantees accounts or any investment returns on any DreamAhead account.īNY Mellon Advisors is an investment advisor registered in the United States under the Investment Advisers Act of 1940. DreamAhead investment returns are not guaranteed and you could lose money by investing in the plan. The underlying mutual funds may change at any time without notice. The underlying mutual funds in which DreamAhead’s portfolios are invested, are managed by various investment managers, including Fidelity®, Vanguard, and Schwab Funds. BNY Mellon Advisors provides investment advisory services for DreamAhead. Vestwell State Savings, LLC, dba Sumday Administration provides program management, recordkeeping and administrative support services for DreamAhead. If in-state tuition decreases in the future, GET tuition units may lose value. The Washington State Investment Board oversees GET’s investments. WSAC provides program management, recordkeeping, and administrative support for GET. The Committee on Advanced Tuition Payment and College Savings administers, and the Washington Student Achievement Council (WSAC) supports the plans. The Guaranteed Education Tuition (GET) program and DreamAhead College Investment Plan (DreamAhead) are qualified tuition programs sponsored and distributed by the State of Washington. In addition, you should periodically assess, and if appropriate, adjust your Section 529 Plan investment choices with your time horizon, risk tolerance and investment objectives in mind. Keep in mind that state-based benefits should be one of many appropriately weighted factors to be considered when making an investment decision. You also may wish to contact your home state's 529 Plan(s), or any other 529 Plan, to learn more about those plans' features, benefits and limitations. The Program Details Booklets discuss investment objectives, risks, charges, expenses, and other important information read and consider them carefully before saving.īefore you save with one of Washington's plans, consider whether your or the beneficiary's home state offers any state tax or other benefits such as financial aid, scholarship funds and protection from creditors that are only available for investments in that state's 529 plan. For more information about DreamAhead, call 1-84 or download the DreamAhead Program Details Booklet. Finally, select a “Calculation Type” – either “Tuition and Fees only” or “Tuition, Fees, Room and Board” then hit the “Calculate” button.įor information about GET, call 1-80 or download the GET Program Details Booklet.Select the number of years your student is planning to attend.Select a “College cost inflation rate”, if you know exactly what the inflation rate has been at the college the student will attend enter that number, otherwise the average national tuition inflation has been between 6-7% for many years.Selections include: In-State Community, In-State Public, Out-of-State Public and Private College. Select the type of college your student will attend in the “College type” drop down.Select the age of the student you are saving for in the “Student’s current age” drop down.The College Cost Calculator is designed to help you estimate how much college may cost when your student is ready to enroll. College costs are increasing at about twice the rate of inflation each year and have averaged between 6-7% for several decades.
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