The Power to Choose: Education Savings Options Made Simple

A small step today can make a huge difference in your kids’ future.  

By Lynda Ridgeway (Estimated reading time: 3 minutes)

The moment snuck up on me.  

One minute, I was packing a tiny backpack and walking my firstborn into kindergarten. The next, I’m sitting in a high school auditorium listening to a counselor talk about college applications, extracurriculars, and financial aid.  

My son starts high school this fall. And already, the message is clear: it’s time to think seriously about college. As I watched him take it all in, I felt both deep pride in the young man he’s becoming and the unmistakable weight of reality.  

Are we ready for this?  

College is a big, beautiful, expensive milestone. In my experience, it often takes more than one approach to feel truly prepared. That’s where a core principle comes in: diversification.  

We often think of diversification in terms of investing – spreading money across different strategies to manage risk and create flexibility. I’ve applied that same thinking to college savings.  

What many people don’t realize is that there’s more than one type of 529 plan.  

Most people are familiar with the traditional 529 savings plan. You contribute money, invest it in the market, and over time, it can grow. It’s a solid strategy, but like any investment, it comes with ups and downs. Market swings can feel especially stressful as tuition bills get closer.  

There’s also a lesser-known type of 529 plan: a prepaid tuition plan. Not every state offers them, but Washington does. The GET Prepaid Tuition Plan lets you lock in today’s tuition rates (sometimes at a discount) by purchasing tuition units in advance. That means you can cover the cost of tuition and fees even if costs rise in the years ahead, as they have historically.  

My family chose to use both.  

The GET plan gives us predictability. It locks in tuition costs and protects against poor timing, like needing to withdraw during a market downturn. It ensures a core portion of the cost of their education is covered.  Prepaid plans like GET are typically limited to in-state residents, and their value is based on public in-state university costs. If your child chooses a private or out-of-state school, your GET units may not fully cover the costs, but the value can still be applied, up to the in-state equivalent.   

That’s where a traditional 529, like WA529 Invest, comes in. Because it’s invested in the market, it offers the potential for higher growth. In Washington, both types of 529 plans can also be used for a broad range of qualified education expenses.  

For us, it’s about balance — combining the certainty of locked-in tuition with the growth potential of market-based savings.   

Together, they give us confidence that we’ll be ready when the time comes.  

That night in the auditorium reminded me: planning isn’t just about numbers. It’s about starting early, staying engaged, and making thoughtful decisions over time.  

If you’re looking to take some uncertainty off the table, prepaid tuition 529 plans are worth a closer look. If you have a tax refund, salary bonus, or other windfall coming your way, consider putting a portion toward your child’s future. It’s a small step today that can make a meaningful difference tomorrow.  

About the Author

Lynda Ridgeway serves as Director of Washington’s Education Savings Plans (WA529), where she leads both WA529 Invest and the GET Prepaid Tuition Plan. With more than 20 years of experience in education finance, she is dedicated to helping Washington families access and maximize college savings opportunities. Since joining WA529 in 2022, she also brings a personal perspective to her role as a mother of two sons who benefit from 529 plans, giving her a firsthand understanding of the importance of these programs for families.