title: RCW 28B.92.030

text:
The definitions in this section apply throughout this chapter unless the context clearly requires otherwise.
(1) "Council" means the student achievement council.
(2) "Financial aid" means either loans, grants, or both, to students who demonstrate financial need enrolled or accepted for enrollment as a student at institutions of higher education.
(3) "Financial need" means a demonstrated financial inability to bear the total cost of education as directed in rule by the office.
(4) "Institution" or "institutions of higher education" means:
(a) Any public university, college, community college, or technical college operated by the state of Washington or any political subdivision thereof; or
(b) Any other university, college, school, or institute in the state of Washington offering instruction beyond the high school level that is a member institution of an accrediting association recognized by rule of the council for the purposes of this section and that agrees to and complies with program rules adopted pursuant to RCW 28B.92.150. However, any institution, branch, extension or facility operating within the state of Washington that is affiliated with an institution operating in another state must be:
(i) A separately accredited member institution of any such accrediting association;
(ii) A branch of a member institution of an accrediting association recognized by rule of the council for purposes of this section, that is eligible for federal student financial aid assistance and has operated as a nonprofit college or university delivering on-site classroom instruction for a minimum of 20 consecutive years within the state of Washington, and has an annual enrollment of at least 700 full-time equivalent students;
(iii) A nonprofit institution recognized by the state of Washington as provided in RCW 28B.77.240; or
(iv) An approved apprenticeship program under chapter 49.04 RCW.
(5) "Maximum Washington college grant":
(a) For students attending two or four-year institutions of higher education as defined in RCW 28B.10.016, is tuition and estimated fees for 15 quarter credit hours or the equivalent, as determined by the office, including operating fees, building fees, and services and activities fees.
(b) For students attending private four-year not-for-profit institutions of higher education in Washington:
(i) In the 2019-20 academic year, is $9,739 and may increase each year afterwards by no more than the tuition growth factor through the end of the 2025-26 academic year; and
(ii) Beginning in the 2026-27 academic year, is 50 percent of the average of awards for the same academic year granted to students at the public research institutions in Washington.
(c) For students attending two-year private not-for-profit institutions of higher education in Washington, in the 2019-20 academic year, is $3,694 and may increase each year afterwards by no more than the tuition growth factor.
(d) For students attending four-year private for-profit institutions of higher education in Washington, in the 2019-20 academic year, is eight thousand five hundred seventeen dollars and may increase each year afterwards by no more than the tuition growth factor, until the end of the 2025-26 academic year.
(e) For students attending two-year private for-profit institutions of higher education in Washington, in the 2019-20 academic year, is two thousand eight hundred twenty-three dollars and may increase each year afterwards by no more than the tuition growth factor, until the end of the 2025-26 academic year.
(f) For students attending Western Governors University-Washington, as established in RCW 28B.77.240:
(i) In the 2019-20 academic year, is $5,619 and may increase each year afterwards by no more than the tuition growth factor through the 2025-26 academic year; and
(ii) Beginning in the 2026-27 academic year, is $4,150 and may increase each year afterwards by no more than the tuition growth factor.
(e) [(g)] For students attending approved apprenticeship programs:
(i) In the 2022-23 academic year, is the same amount as the maximum Washington college grant for students attending two-year institutions of higher education as defined in (a) of this subsection to be used for tuition and fees, program supplies and equipment, and other costs that facilitate educational endeavors through the 2025-26 academic year; and
(ii) Beginning in the 2026-27 academic year, is 50 percent of the maximum Washington college grant award for students attending two-year institutions of higher education as defined in (a) of this subsection to be used for tuition and fees, program supplies and equipment, and other costs that facilitate educational endeavors.
(6) "Office" means the office of student financial assistance.
(7) "Tuition growth factor" means an increase of no more than the average annual percentage growth rate of the median hourly wage for Washington for the previous 14 years as the wage is determined by the federal bureau of labor statistics.
[ 2025 c 395 s 2; 2022 c 166 s 1; 2019 c 406 s 21; 2013 c 248 s 2; 2012 c 229 s 557; 2011 1st sp.s. c 11 s 159. Prior: 2009 c 238 s 7; 2009 c 215 s 5; 2004 c 275 s 35; 2002 c 187 s 1; 1989 c 254 s 2; 1985 c 370 s 56; 1979 ex.s. c 235 s 1; 1975 1st ex.s. c 132 s 16; 1969 ex.s. c 222 s 8. Formerly RCW 28B.10.802, 28.76.440.]
Notes:
Finding—Intent—2025 c 395: "The legislature finds that postsecondary education is critical for the economic mobility of Washingtonians. The Washington college grant established an entitlement program to provide financial aid for low-income students. It is the intent of the legislature to continue assessing state financial aid offered to students attending institutions of higher education across all sectors in Washington in order to serve students pursuing postsecondary education. Further, it is the intent to continue assessing the college bound program available to students attending institutions of higher education across all sectors in Washington." [ 2025 c 395 s 1.]
Effective date—2025 c 395: "This act is necessary for the immediate preservation of the public peace, health, or safety, or support of the state government and its existing public institutions, and takes effect July 1, 2025." [ 2025 c 395 s 5.]
Findings—Intent—2019 c 406: See note following RCW 43.79.195.
Findings—Short title—2019 c 406: See notes following RCW 28B.92.200.
Findings—2019 c 406: See note following RCW 28B.94.020.
Findings—Intent—2019 c 406: See note following RCW 28C.30.050.
Findings—Intent—2019 c 406: See note following RCW 43.216.135.
Findings—Intent—2013 c 248: "The legislature finds that Western Governors University-Washington, recognized by the state of Washington under RCW 28B.77.240, serves a student population that is nontraditional and geographically diverse. Enrollment in Western Governors University-Washington has grown steadily since 2011 reaching over four thousand three hundred students. These students represent an average age of thirty-seven, sixty-nine percent of whom are classified as underserved, including low-income, ethnic minority, rural, and first-generation students.
The legislature also finds that tuition at Western Governors University-Washington has remained static since 2008 at five thousand seven hundred eighty dollars per year.
Further, the legislature finds that the population served by Western Governors University-Washington deserves to have access to affordable postsecondary education, including baccalaureate degree-granting institutions. Therefore, the legislature intends to provide access to the state need grant program for eligible students attending Western Governors University-Washington.
The legislature also intends that Western Governors University-Washington comply with all reporting requirements established by the student achievement council for state need grant participation, including financial information about students, enrollment, graduation and placement rates, and the institution's standing with its accrediting agency, the Northwest Commission on Colleges and Universities, and the United States department of education." [ 2013 c 248 s 1.]
Effective date—2013 c 248: "This act takes effect August 1, 2013." [ 2013 c 248 s 6.]
Effective date—2012 c 229 ss 101, 117, 401, 402, 501 through 594, 601 through 609, 701 through 708, 801 through 821, 902, and 904: See note following RCW 28B.77.005.
Effective date—2011 1st sp.s. c 11 ss 101-103, 106-202, 204-244, and 301: See note following RCW 28B.76.020.
Intent—2011 1st sp.s. c 11: See note following RCW 28B.76.020.
Findings—Intent—2009 c 238: See note following RCW 28C.18.160.
Findings—Intent—2009 c 215: "The legislature finds that a myriad of financial aid programs exist for students at the federal, state, local, community, and institutional levels. These programs enable thousands of students across Washington to access all sectors of higher education, from apprenticeship programs to public and private four and two-year institutions of higher education. The legislature further finds that Washington state is a national leader in the distribution of financial aid to increase college access and affordability, ranking fourth in the nation in 2007 in terms of state student grant aid funding per capita.
It is the intent of the legislature to promote and expand access to state financial aid programs by determining which programs provide the greatest value to the largest number of students, and by fully supporting those programs. Furthermore, it is the intent of the legislature to designate all existing financial aid an opportunity pathway, with the effect of providing students with a clear understanding of available resources to pay for postsecondary education, thereby increasing access to postsecondary education and meeting the needs of local business and industry.
It is the intent of the legislature that the *higher education coordinating board, the state board for community and technical colleges, the office of the superintendent of public instruction, the workforce training and education coordinating board, and institutions of higher education coordinate the development of outreach tools, such as a web-based portal for information on all opportunity pathway aid programs. The information should be communicated in a format and manner that provides an ease of understanding for students and their families and include other pertinent information on institutions of higher education, costs, and academic programs. It is also the intent of the legislature for institutions of higher education to incorporate this information in promotional materials to prospective and current students and their families." [ 2009 c 215 s 1.]
*Reviser's note: The higher education coordinating board ("board") was abolished by 2011 1st sp.s. c 11 s 301, effective July 1, 2012.
Effective date—2009 c 215: "This act takes effect August 1, 2009." [ 2009 c 215 s 17.]
Part headings not law—2004 c 275: See note following RCW 28B.76.090.
Intent—1989 c 254: "It is the intent of the legislature that nothing in this act shall prevent or discourage an individual from making an effort to repay any state financial aid awarded during his or her collegiate career." [ 1989 c 254 s 1.]
Effective date—Severability—1975 1st ex.s. c 132: See notes following RCW 28B.77.060.
Loan programs for mathematics and science teachers: RCW 28B.15.760 through 28B.15.766.


doc_type: statute

jurisdiction: wa

title: RCW 28B.92.040

text:
The office shall be cognizant of the following guidelines in the performance of its duties:
(1) The office shall be research oriented, not only at its inception but continually through its existence.
(2) The office shall coordinate all existing programs of financial aid except those specifically dedicated to a particular institution by the donor.
(3) The office shall take the initiative and responsibility for coordinating all federal student financial aid programs to ensure that the state recognizes the maximum potential effect of these programs, and shall design state programs that complement existing federal, state, and institutional programs.
(4) Counseling is a paramount function of the Washington college grant program and other state student financial aid programs, and in most cases could only be properly implemented at the institutional levels; therefore, state student financial aid programs shall be concerned with the attainment of those goals which, in the judgment of the office, are the reasons for the existence of a student financial aid program, and not solely with administration of the program on an individual basis.
(5) The "package" approach of combining loans, grants and employment for student financial aid shall be the conceptual element of the state's involvement.
(6) The office shall ensure that allocations of state appropriations for financial aid are made to individuals and institutions in a timely manner and shall closely monitor expenditures to avoid under or overexpenditure of appropriated funds.
[ 2019 c 406 s 27; 2011 1st sp.s. c 11 s 160; 2004 c 275 s 36; 1999 c 345 s 3; 1995 c 269 s 801; 1969 ex.s. c 222 s 10. Formerly RCW 28B.10.804, 28.76.450.]
Notes:
Findings—Intent—2019 c 406: See note following RCW 43.79.195.
Findings—Short title—2019 c 406: See notes following RCW 28B.92.200.
Findings—2019 c 406: See note following RCW 28B.94.020.
Findings—Intent—2019 c 406: See note following RCW 28C.30.050.
Findings—Intent—2019 c 406: See note following RCW 43.216.135.
Effective date—2011 1st sp.s. c 11 ss 101-103, 106-202, 204-244, and 301: See note following RCW 28B.76.020.
Intent—2011 1st sp.s. c 11: See note following RCW 28B.76.020.
Part headings not law—2004 c 275: See note following RCW 28B.76.090.
Effective date—Part headings not law—Severability—1995 c 269: See notes following RCW 18.16.050.

license: public-domain-government-work

rule_set: Revised Code of Washington

catchline: Guidelines in performance of office duties.

code: rcw

unit: section

court: Washington State Legislature


title: RCW 28B.92.060

text:
In awarding need grants, the office shall proceed substantially as follows: PROVIDED, That nothing contained herein shall be construed to prevent the office, in the exercise of its sound discretion, from following another procedure when the best interest of the program so dictates:
(1) The office shall annually select the financial aid award recipients from among Washington residents applying for student financial aid who have been ranked according to:
(a) College bound scholarship eligibility. Eligible students as defined in RCW 28B.118.010 who meet the requirements in *RCW 28B.118.010(4)(b)(i) for the college bound scholarship may not be denied state need grant funding due to institutional policies or delayed awarding of college bound scholarship students. College bound scholarship eligible students whose family income exceeds sixty-five percent of the state median family income, but who are eligible for the state need grant, shall be prioritized and awarded the maximum state need grant for which the student is eligible;
(b) Financial need as determined by the amount of the family contribution; and
(c) Other considerations, such as whether the student is a former foster youth, or is a placebound student who has completed an associate of arts or associate of science degree or its equivalent.
(2) The financial need of the highest ranked students shall be met by grants depending upon the evaluation of financial need until the total allocation has been disbursed. Funds from grants which are declined, forfeited or otherwise unused shall be reawarded until disbursed, except that eligible former foster youth shall be assured receipt of a grant. The office, in consultation with four-year institutions of higher education, the council, and the state board for community and technical colleges, shall develop award criteria and methods of disbursement based on level of need, and not solely rely on a first-come, first-served basis.
(3) A student shall be eligible to receive a state need grant for up to five years, or the credit or clock hour equivalent of five years, or up to one hundred twenty-five percent of the published length of time of the student's program. A student may not start a new associate degree program as a state need grant recipient until at least five years have elapsed since earning an associate degree as a need grant recipient, except that a student may earn two associate degrees concurrently. Qualifications for renewal will include maintaining satisfactory academic progress toward completion of an eligible program as determined by the office. Should the recipient terminate his or her enrollment for any reason during the academic year, the unused portion of the grant shall be returned to the state educational grant fund by the institution according to the institution's own policy for issuing refunds, except as provided in RCW 28B.92.070.
(4) In computing financial need, the office shall determine a maximum student expense budget allowance, not to exceed an amount equal to the total maximum student expense budget at the public institutions plus the current average state appropriation per student for operating expense in the public institutions. Any child support payments received by students who are parents attending less than half-time shall not be used in computing financial need.
(5)(a) A student who is enrolled in three to six credit-bearing quarter credits, or the equivalent semester credits, may receive a grant for up to one academic year before beginning a program that leads to a degree or certificate.
(b) An eligible student enrolled on a less-than-full-time basis shall receive a prorated portion of his or her state need grant for any academic period in which he or she is enrolled on a less-than-full-time basis, as long as funds are available.
(c) An institution of higher education may award a state need grant to an eligible student enrolled in three to six credit-bearing quarter credits, or the semester equivalent, on a provisional basis if:
(i) The student has not previously received a state need grant from that institution;
(ii) The student completes the required free application for federal student aid;
(iii) The institution has reviewed the student's financial condition, and the financial condition of the student's family if the student is a dependent student, and has determined that the student is likely eligible for a state need grant; and
(iv) The student has signed a document attesting to the fact that the financial information provided on the free application for federal student aid and any additional financial information provided directly to the institution is accurate and complete, and that the student agrees to repay the institution for the grant amount if the student submitted false or incomplete information.
(6) As used in this section, "former foster youth" means a person who is at least eighteen years of age, but not more than twenty-four years of age, who was a dependent of the department of social and health services at the time he or she attained the age of eighteen.
[ 2019 c 298 s 4; 2012 c 229 s 558. Prior: 2011 1st sp.s. c 11 s 162; 2011 1st sp.s. c 10 s 9; 2009 c 215 s 4; 2007 c 404 s 2; 2005 c 93 s 3; 2004 c 275 s 37; 1999 c 345 s 5; 1991 c 164 s 4; 1989 c 254 s 4; 1969 ex.s. c 222 s 12. Formerly RCW 28B.10.808, 28.76.470.]
Notes:
Reviser's note: *(1) RCW 28B.118.010 was amended by 2021 c 283 s 2, significantly changing subsection (4)(b)(i). RCW 28B.118.010 was subsequently amended by 2025 c 395 s 4 and 2025 c 288 s 1, deleting subsection (4)(b).
(2) RCW 28B.92.060 was amended by 2019 c 298 s 4 without cognizance of its repeal by 2019 c 406 s 79. For rule of construction concerning sections amended and repealed in the same legislative session, see RCW 1.12.025.
Effective date—2012 c 229 ss 101, 117, 401, 402, 501 through 594, 601 through 609, 701 through 708, 801 through 821, 902, and 904: See note following RCW 28B.77.005.
Effective date—2011 1st sp.s. c 11 ss 101-103, 106-202, 204-244, and 301: See note following RCW 28B.76.020.
Intent—2011 1st sp.s. c 11: See note following RCW 28B.76.020.
Findings—Intent—Short title—2011 1st sp.s. c 10: See notes following RCW 28B.15.031.
Findings—Intent—Effective date—2009 c 215: See notes following RCW 28B.92.030.
Findings—Intent—2005 c 93: See note following RCW 74.13.570.
Part headings not law—2004 c 275: See note following RCW 28B.76.090.
Intent—1989 c 254: See note following RCW 28B.92.030.
PDF
RCW 28B.92.060
State need grant awards.
[ 2012 c 229 s 558. Prior: 2011 1st sp.s. c 11 s 162; 2011 1st sp.s. c 10 s 9; 2009 c 215 s 4; 2007 c 404 s 2; 2005 c 93 s 3; 2004 c 275 s 37; 1999 c 345 s 5; 1991 c 164 s 4; 1989 c 254 s 4; 1969 ex.s. c 222 s 12. Formerly RCW 28B.10.808, 28.76.470.]
Notes:
Reviser's note: RCW 28B.92.060 was amended by 2019 c 298 s 4 without cognizance of its repeal by 2019 c 406 s 79. For rule of construction concerning sections amended and repealed in the same legislative session, see RCW 1.12.025.

catchline: State need grant awards.


title: RCW 28B.92.065

text:
Beginning with the 2015-2017 omnibus appropriations act and each biennium thereafter, reductions in tuition levels resulting from section 3, chapter 36, Laws of 2015 3rd sp. sess. will allow the legislature to reduce Washington college grant program appropriations by an equal amount from the 2013-2015 fiscal biennium amounts. The legislature does not intend to reduce award levels for private colleges and universities below the 2014-15 academic year levels.
[ 2019 c 406 s 28; 2015 3rd sp.s. c 36 s 4.]
Notes:
Findings—Intent—2019 c 406: See note following RCW 43.79.195.
Findings—Short title—2019 c 406: See notes following RCW 28B.92.200.
Findings—2019 c 406: See note following RCW 28B.94.020.
Findings—Intent—2019 c 406: See note following RCW 28C.30.050.
Findings—Intent—2019 c 406: See note following RCW 43.216.135.
Short title—2015 3rd sp.s. c 36: See note following RCW 28B.15.031.

catchline: Washington college grant program appropriations reduction.


title: RCW 28B.92.070

text:
Under rules adopted by the council, the provisions of *RCW 28B.92.060(3) shall not apply to eligible students, as defined in RCW 28B.10.017, and eligible students shall not be required to repay the unused portions of grants received under the state student financial aid program.
[ 2012 c 229 s 559; 2004 c 275 s 38; 1991 c 164 s 3. Formerly RCW 28B.10.8081.]
Notes:
*Reviser's note: RCW 28B.92.060 was repealed by 2019 c 406 s 79 without cognizance of its amendment by 2019 c 298 s 4. For rule of construction concerning sections amended and repealed in the same legislative session, see RCW 1.12.025.
Effective date—2012 c 229 ss 101, 117, 401, 402, 501 through 594, 601 through 609, 701 through 708, 801 through 821, 902, and 904: See note following RCW 28B.77.005.
Part headings not law—2004 c 275: See note following RCW 28B.76.090.

catchline: Persian Gulf veterans—Limited application of RCW 28B.92.060.


title: RCW 28B.92.085

text:
Institutions of higher education are encouraged to review their policies and procedures regarding financial aid for students taking a less-than-half-time course load, and to implement policies and procedures providing students taking a less-than-half-time course load with the same access to institutional aid, including tuition waivers, as provided to students enrolled half time or more.
[ 2007 c 404 s 3.]

catchline: Part-time students—Review of financial aid policies and procedures.


title: RCW 28B.92.086

text:
Institutions of higher education are encouraged to review their policies and procedures regarding financial aid for students enrolled in dual credit programs as defined in RCW 28B.15.821. Institutions of higher education are further encouraged to implement policies and procedures providing students enrolled in dual credit programs with the same access to institutional aid, including all educational expenses, as provided to resident undergraduate students.
[ 2009 c 215 s 10.]
Notes:
Findings—Intent—Effective date—2009 c 215: See notes following RCW 28B.92.030.

catchline: Dual credit programs—Review of financial aid policies and programs.


title: RCW 28B.92.090

text:
All student financial aid shall be granted by the commission without regard to the applicant's race, creed, color, religion, sex, or ancestry.
[ 1969 ex.s. c 222 s 14. Formerly RCW 28B.10.812, 28.76.480.]

catchline: Aid granted without regard to applicant's race, creed, color, religion, sex, or ancestry.


title: RCW 28B.92.100

text:
No aid shall be awarded to any student who is pursuing a degree in theology.
[ 1969 ex.s. c 222 s 15. Formerly RCW 28B.10.814, 28.76.490.]

catchline: Theology student denied aid.


title: RCW 28B.92.110

text:
A state financial aid recipient under this chapter shall apply the award toward the cost of tuition, room, board, books, and fees at the institution of higher education attended. An opportunity internship graduate who enters an apprenticeship program may use the award for the costs of related and supplemental instruction provided through an institution of higher education, tools, and other costs associated with the apprenticeship program.
[ 2009 c 238 s 10; 2004 c 275 s 40; 1969 ex.s. c 222 s 16. Formerly RCW 28B.10.816, 28.76.500.]
Notes:
Findings—Intent—2009 c 238: See note following RCW 28C.18.160.
Part headings not law—2004 c 275: See note following RCW 28B.76.090.

catchline: Application of award.


title: RCW 28B.92.120

text:
Funds appropriated for student financial assistance to be granted pursuant to this chapter shall be disbursed as determined by the office.
[ 2011 1st sp.s. c 11 s 164; 2004 c 275 s 41; 1969 ex.s. c 222 s 17. Formerly RCW 28B.10.818, 28.76.510.]
Notes:
Effective date—2011 1st sp.s. c 11 ss 101-103, 106-202, 204-244, and 301: See note following RCW 28B.76.020.
Intent—2011 1st sp.s. c 11: See note following RCW 28B.76.020.
Part headings not law—2004 c 275: See note following RCW 28B.76.090.

catchline: Office to determine how funds disbursed.


title: RCW 28B.92.130

text:
The office shall be authorized to accept grants, gifts, bequests, and devises of real and personal property from any source for the purpose of granting financial aid in addition to that funded by the state.
[ 2011 1st sp.s. c 11 s 165; 2004 c 275 s 42; 1969 ex.s. c 222 s 18. Formerly RCW 28B.10.820, 28.76.520.]
Notes:
Effective date—2011 1st sp.s. c 11 ss 101-103, 106-202, 204-244, and 301: See note following RCW 28B.76.020.
Intent—2011 1st sp.s. c 11: See note following RCW 28B.76.020.
Part headings not law—2004 c 275: See note following RCW 28B.76.090.

catchline: Grants, gifts, bequests, and devises of property.


title: RCW 28B.92.140

text:
The state educational trust fund is hereby established in the state treasury. The primary purpose of the trust is to pledge statewide available college student assistance to needy or disadvantaged students, especially middle and high school youth, considered at-risk of dropping out of secondary education who participate in approved early awareness and outreach programs and who enter any accredited Washington institution of postsecondary education within two years of high school graduation.
The office shall deposit refunds and recoveries of student financial aid funds expended in prior fiscal periods in such account. The office may also deposit moneys that have been contributed from other state, federal, or private sources.
Expenditures from the fund shall be for financial aid to needy or disadvantaged students. The office may annually expend such sums from the fund as may be necessary to fulfill the purposes of this section, including not more than three percent for the costs to administer aid programs supported by the fund. All earnings of investments of balances in the state educational trust fund shall be credited to the trust fund. Expenditures from the fund shall not be subject to appropriation but are subject to allotment procedures under chapter 43.88 RCW.
[ 2011 1st sp.s. c 11 s 166; 1997 c 269 s 1; 1996 c 107 s 1; 1991 sp.s. c 13 s 12; 1985 c 57 s 10; 1981 c 55 s 1. Formerly RCW 28B.10.821.]
Notes:
Effective date—2011 1st sp.s. c 11 ss 101-103, 106-202, 204-244, and 301: See note following RCW 28B.76.020.
Intent—2011 1st sp.s. c 11: See note following RCW 28B.76.020.
Effective dates—1991 sp.s. c 13: See note following RCW 18.04.105.
Effective date—1985 c 57: See note following RCW 18.04.105.

catchline: State educational trust fund—Deposits—Expenditures.


title: RCW 28B.92.150

text:
The office shall adopt rules as may be necessary or appropriate for effecting the provisions of this chapter, in accordance with the provisions of chapter 34.05 RCW, the administrative procedure act.
[ 2011 1st sp.s. c 11 s 167; 2004 c 275 s 43; 1999 c 345 s 7; 1973 c 62 s 4; 1969 ex.s. c 222 s 19. Formerly RCW 28B.10.822, 28.76.530.]
Notes:
Effective date—2011 1st sp.s. c 11 ss 101-103, 106-202, 204-244, and 301: See note following RCW 28B.76.020.
Intent—2011 1st sp.s. c 11: See note following RCW 28B.76.020.
Part headings not law—2004 c 275: See note following RCW 28B.76.090.
Savings—Severability—1973 c 62: See notes following RCW 28B.10.510.

catchline: Rules.


title: RCW 28B.92.200

text:
(1) The Washington college grant program is created to provide a statewide free college program for eligible participants and greater access to postsecondary education for Washington residents. The Washington college grant program is intended to increase the number of high school graduates and adults that can attain a postsecondary credential and provide them with the qualifications needed to compete for job opportunities in Washington.
(2) The office shall implement and administer the Washington college grant program and is authorized to establish rules necessary for implementation of the program.
(3) The legislature shall appropriate funding for the Washington college grant program. Allocations must be made on the basis of estimated eligible participants enrolled in eligible institutions of higher education or apprenticeship programs. All eligible students are entitled to a Washington college grant beginning in academic year 2020-21.
(4) The office shall award Washington college grants to all eligible students beginning in academic year 2020-21.
(5) To be eligible for the Washington college grant, students must meet the following requirements:
(a)(i) Demonstrate financial need under RCW 28B.92.205;
(ii) Receive one or more of the following types of public assistance:
(A) Aged, blind, or disabled assistance benefits under chapter 74.62 RCW;
(B) Essential needs and housing support program benefits under RCW 43.185C.220; or
(C) Pregnant women assistance program financial grants under RCW 74.62.030;
(iii) Be a Washington high school student in the 10th, 11th, or 12th grade whose parent or legal guardian is receiving one or more of the types of public assistance listed in (a)(ii) of this subsection and have received a certificate confirming eligibility from the office in accordance with RCW 28B.92.225;
(iv) Beginning in the 2025-26 academic year, be a Washington high school student in the 10th, 11th, or 12th grade who is a member of an assistance unit receiving benefits under the Washington basic food program in chapter 74.04 RCW or the Washington food assistance program established under RCW 74.08A.120; or
(v) Beginning in the 2026–27 academic year, be eligible for the passport to careers program as provided in RCW 28B.117.030(3);
(b)(i) Be enrolled or accepted for enrollment for at least three quarter credits or the equivalent semester credits at an institution of higher education in Washington as defined in RCW 28B.92.030; or
(ii) Be enrolled in a registered apprenticeship program approved under chapter 49.04 RCW;
(c) Be a resident student as defined in RCW 28B.15.012(2) (a) through (e);
(d) File an annual application for financial aid as approved by the office; and
(e) Must not have earned a baccalaureate degree or higher from a postsecondary institution.
(6) Washington college grant eligibility may not extend beyond six years or 150 percent of the published length of the program in which the student is enrolled or the credit or clock-hour equivalent.
(7) Institutional aid administrators shall determine whether a student eligible for the Washington college grant in a given academic year may remain eligible for the ensuing year if the student's family income increases by no more than three percent.
(8) Qualifications for receipt and renewal include maintaining satisfactory academic progress toward completion of an eligible program as determined by the office and established in rule.
(9) Should a recipient terminate his or her enrollment for any reason during the academic year, the unused portion of the grant shall be returned to the state educational grant fund by the institution of higher education according to the institution of higher education's policy for issuing refunds, except as provided in RCW 28B.92.070.
(10) An eligible student enrolled on a part-time basis shall receive a prorated portion of the Washington college grant for any academic period in which he or she is enrolled on a part-time basis.
(11) The Washington college grant is intended to be used to meet the costs of postsecondary education for students with financial need. The student shall be awarded all need-based financial aid for which the student qualifies as determined by the institution.
(12) Students and participating institutions of higher education shall comply with all the rules adopted by the council for the administration of this chapter.
[ 2026 c 44 s 2. Prior: 2024 c 323 s 1; 2024 c 116 s 1; 2022 c 214 s 5; 2019 c 406 s 19.]
Notes:
Intent—2022 c 214: See note following RCW 28B.77.300.
Findings—2019 c 406: "(1) The legislature finds that individuals with a postsecondary credential have a greater chance of earning a wage that can support themselves and their families than if they do not obtain a postsecondary credential. At the same time, Washington employers are in need of many more individuals who possess postsecondary qualifications. Access to postsecondary opportunities are vital to ensure that more Washington high school graduates and working adults can enter and complete a postsecondary program and compete for the job opportunities available in the state.
(2) The legislature further finds that a statewide free college program, for students who demonstrate financial need as defined in section 20 of this act, is necessary to significantly reduce the financial costs of obtaining a postsecondary credential. The Washington college grant program is intended to increase access to postsecondary opportunities for Washington residents." [ 2019 c 406 s 18.]
Short title—2019 c 406: "This act may be known and cited as the workforce education investment act." [ 2019 c 406 s 80.]
Findings—Intent—2019 c 406: See note following RCW 43.79.195.
Findings—2019 c 406: See note following RCW 28B.94.020.
Findings—Intent—2019 c 406: See note following RCW 28C.30.050.
Findings—Intent—2019 c 406: See note following RCW 43.216.135.

catchline: Washington college grant program.


title: RCW 28B.92.205

text:
In addition to other eligibility requirements outlined in this chapter, students who demonstrate financial need are eligible to receive the Washington college grant. Beginning with the 2025-26 academic year, students with family incomes between zero and 60 percent of the state median family income, adjusted for family size, shall receive the maximum Washington college grant as defined in RCW 28B.92.030. Grants for students with incomes between 61 and 100 percent of the state median family income, adjusted for family size, shall be prorated at the following percentages of the maximum Washington college grant amount:
(1) 60 percent for students with family incomes between 61 and 65 percent of the state median family income;
(2) 50 percent for students with family incomes between 66 and 70 percent of the state median family income;
(3) 24.5 percent for students with family incomes between 71 and 75 percent of the state median family income; and
(4) 10 percent for students with family incomes between 76 and 100 percent of the state median family income.
[ 2025 c 395 s 3; 2023 c 475 s 923; 2022 c 297 s 949; 2019 c 406 s 20.]
Notes:
Finding—Intent—Effective date—2025 c 395: See notes following RCW 28B.92.030.
Effective date—2023 c 475: See note following RCW 16.76.030.
Effective date—2022 c 297: See note following RCW 43.79.565.
Findings—Intent—2019 c 406: See note following RCW 43.79.195.
Findings—Short title—2019 c 406: See notes following RCW 28B.92.200.
Findings—2019 c 406: See note following RCW 28B.94.020.
Findings—Intent—2019 c 406: See note following RCW 28C.30.050.
Findings—Intent—2019 c 406: See note following RCW 43.216.135.

catchline: Washington college grant program—Financial need.


title: RCW 28B.92.210

text:
The caseload forecast council shall estimate the anticipated caseload of the Washington college grant program and submit the caseload forecast as specified in RCW 43.88C.020.
[ 2019 c 406 s 23.]
Notes:
Findings—Intent—2019 c 406: See note following RCW 43.79.195.
Findings—Short title—2019 c 406: See notes following RCW 28B.92.200.
Findings—2019 c 406: See note following RCW 28B.94.020.
Findings—Intent—2019 c 406: See note following RCW 28C.30.050.
Findings—Intent—2019 c 406: See note following RCW 43.216.135.

catchline: Washington college grant program—Caseload forecast.


title: RCW 28B.92.220

text:
(1) In order to be eligible for state student financial aid programs, postsecondary institutions shall submit student-level data to the education data center established in RCW 43.41.400 in accordance with RCW 28B.77.090 for the purposes of legislatively authorized research and evaluation of state postsecondary student aid programs.
(2) The education data center shall determine the appropriate student-level data each postsecondary institution shall report in order to meet the state goals for research and evaluation under subsection (1) of this section.
(3) The education data center shall enter data-sharing agreements to facilitate the transfer of required data.
(4) Religious postsecondary institutions that maintain a religious exemption under RCW 28B.85.040 may request an exemption from the council from submitting student-level data to the education data center.
(5) Postsecondary institutions, except for those exempt under subsection (4) of this section, that do not submit student-level data to the education data center may be found ineligible for the state's federally required eligible training provider list and may lose eligibility to participate in the Washington college grant program, established in this chapter. The council's office of student financial assistance shall determine penalties for postsecondary institutions in accordance with chapter 34.05 RCW.
(6) Nothing in this section allows the sharing of confidential information that is prohibited by state or federal law.
(7) For the purposes of this section, "postsecondary institution" means an institution of higher education as defined in RCW 28B.10.016, a degree-granting institution as defined in RCW 28B.85.010, a private vocational school as defined in RCW 28C.10.020, and a school as defined in RCW 18.16.020.
[ 2019 c 406 s 22.]
Notes:
Findings—Intent—2019 c 406: See note following RCW 43.79.195.
Findings—Short title—2019 c 406: See notes following RCW 28B.92.200.
Findings—2019 c 406: See note following RCW 28B.94.020.
Findings—Intent—2019 c 406: See note following RCW 28C.30.050.
Findings—Intent—2019 c 406: See note following RCW 43.216.135.

catchline: Postsecondary institution student-level data—Education data center.


title: RCW 28B.92.225

text:
(1) The office shall enter into a data-sharing agreement with the department of social and health services to facilitate the sharing of individual-level data. To the extent allowable under state and federal law, the department of social and health services shall send the office a list of all individuals receiving benefits under the public assistance programs listed under RCW 28B.92.200(5) on at least an annual basis. The office shall use the list to confirm students' eligibility for the Washington college grant program, without requiring the student to fill out a separate financial aid form. The office may also use the information to conduct outreach promoting the Washington college grant.
(2) For high school students identified in RCW 28B.92.200(5)(a) (iii) or (iv), the office shall issue a certificate to the student that validates the student's financial need eligibility for the Washington college grant program. The certificate is good for one year after high school graduation and may be used upon enrollment in an eligible institution of higher education, provided the student meets the other Washington college grant eligibility requirements. The office shall track and maintain records of students who were issued certificates under this section in order to confirm a student's financial need eligibility with an institution of higher education. A student does not need to produce the certificate to receive the Washington college grant.
(3) The office shall notify students whose eligibility for the Washington college grant is established under RCW 28B.92.200(5)(a)(iv) about the importance of submitting a free application for federal student aid or a Washington application for state financial aid after their first quarter or semester, and each year thereafter.
(4) By December 1, 2026, and each year thereafter, the office shall submit a report to the appropriate committees of the legislature pursuant to RCW 43.01.036 detailing Washington college grant participation by students whose eligibility for the grant is established under RCW 28B.92.200(5)(a)(iv).
[ 2024 c 116 s 2; 2022 c 214 s 6.]
Notes:
Intent—2022 c 214: See note following RCW 28B.77.300.

catchline: Individual-level data—Public assistance certificates—Annual report—Washington college grant program.


title: RCW 28B.92.230

text:
The office shall collaborate with the department of social and health services to:
(1) Facilitate individual-level outreach to individuals receiving benefits under the public assistance programs listed under RCW 28B.92.200(5), temporary assistance for needy families under chapter 74.08 RCW, the state family assistance program provided for in rule, and the basic food program to inform these individuals of their eligibility for the Washington college grant program; and
(2) Notify individuals whose financial need for purposes of Washington college grant eligibility has been demonstrated under RCW 28B.92.200(5)(a)(iv) that they may establish eligibility for additional state and federal aid by submitting a free application for federal student aid or a Washington application for state financial aid.
[ 2024 c 116 s 3; 2022 c 214 s 7.]
Notes:
Intent—2022 c 214: See note following RCW 28B.77.300.

catchline: Individual-level outreach—Additional aid—Washington college grant program.


title: RCW 28B.93.005

text:
(1) The legislature finds that college students continue to borrow in order to fund their higher education, despite an increase in access to state financial aid. In Washington state, estimates for the number of borrowers carrying student loan debt are around 800,000 with an average balance around $33,500, resulting in a total outstanding balance of $29.4 billion. Student loan debt outpaces other sources of consumer debt, such as credit card and vehicle debt. While research shows that earning a postsecondary credential positively impacts a person's earning potential, high student loan debt erodes much of this benefit.
(2) The legislature recognizes that people with student loan debt are less likely to get married and start a family, establish small businesses, and buy homes. High student loan debt negatively impacts a person's credit score and their debt-to-income ratio, which impacts their ability to qualify for a mortgage. However, student loan debt does not impact all borrowers the same.
(3) Student loan borrowers who struggle the most are typically lower income, first generation, and students of color. Data from the national center for education statistics of a 12-year longitudinal study based on students who began their education in the 2003-04 academic year found the following for students who defaulted: Almost 90 percent had received a Pell grant at one point; 70 percent were first generation college students; 40 percent were in the bottom quarter of income distribution; and 30 percent were African American.
(4) The legislature recognizes though that student loans are beneficial for students who have no other way to pay for college or have expenses beyond tuition and fees. Student loans can open up postsecondary education opportunities for many and help boost the state's economy by increasing the number of qualified graduates to fulfill workforce shortages. However, the legislature finds that high interest rates that accumulate while the student is in college negatively impact the student's ability to prosper financially and contribute to the state's economy after graduation. The legislature also recognizes that there is very little financial aid available to assist students pursuing graduate studies, despite the state's high demand for qualified professionals in fields with workforce shortages such as behavioral health, nursing, software development, teaching, and more. Therefore, the legislature intends to support students pursuing higher education by establishing a state student loan program that is more affordable than direct federal student loans and private loans. The legislature intends to offer student loans to state residents with financial need who are pursuing high-demand graduate studies at a subsidized interest rate not to exceed 2.5 percent. The legislature intends for the Washington state student loan program to align with the Washington college grant program, recognizing that student loans are secondary forms of financial aid that often cover expenses beyond tuition.
[ 2023 c 389 s 1; 2022 c 206 s 1.]

catchline: Findings—Intent.


title: RCW 28B.93.010

text:
The definitions in this section apply throughout this chapter unless the context clearly requires otherwise.
(1) "Borrower" means an eligible student who has received a student loan under the Washington student loan program.
(2) "Eligible expenses" means reasonable expenses associated with the costs of acquiring a postsecondary education such as tuition, fees, books, equipment, room and board, and other expenses as determined by the office.
(3) "Eligible graduate program" means an advanced academic degree in a specialized field of study that has a workforce shortage or is considered high demand including, but not limited to, professions in health care, behavioral and mental health, early education, K-12, higher education, law enforcement, public safety, and others, as determined by the office.
(4) "Eligible student" means a student who:
(a) Meets the definition of "resident student" under RCW 28B.15.012(2) (a) through (e);
(b) Has a median family income of 100 percent or less of the state median family income;
(c) Is enrolled in an institution of higher education in an eligible graduate program on at least a half-time basis; and
(d) Has completed an annual application for financial aid as approved by the office.
(5) "Gift aid" means federal, state, institutional, or private financial aid provided for educational purposes with no obligation of repayment. "Gift aid" does not include student loans or work-study programs.
(6) "Institutions of higher education" includes institutions of higher education authorized to participate in state financial aid programs in accordance with chapter 28B.92 RCW.
(7) "Office" means the office of student financial assistance established under chapter 28B.76 RCW.
(8) "Program" means the Washington student loan program.
(9) "Student loan" means a loan that is approved by the office and awarded to an eligible student to pay for eligible expenses.
[ 2023 c 389 s 2; 2022 c 206 s 2.]

catchline: Definitions.


title: RCW 28B.93.020

text:
(1) The Washington student achievement council, in consultation with the office of the state treasurer and the state investment board, shall design a student loan program to assist students who need additional financial support to obtain postsecondary education.
(2) At a minimum, the program design must make recommendations about the following features of a state student loan program and implementation plan:
(a) A low interest rate that is below current federal subsidized student loan interest rates not to exceed 2.5 percent;
(b) The terms of the loans, including:
(i) Loan limits not to exceed $20,000 annually per borrower;
(ii) Grace periods, including grace periods for active duty members of the national guard who may lose eligibility when being called up for active duty; and
(iii) Minimum postsecondary enrollment standards;
(c) The terms and administration of a repayment program, including:
(i) Repayment options such as standard loan repayment contracts and the length of the repayment contracts, which shall not exceed 25 years;
(ii) Income-based repayment plans; and
(iii) Terms of loan forgiveness;
(d) The types and characteristics of borrowers permitted to participate in the program including family income, degree and credential types, and other borrower characteristics. The program must prioritize low-income borrowers; and
(e) The design and administration of an appeals process.
(3) In the design of the program, the Washington student achievement council may recommend contracting with one or more state-based financial institutions regulated by either chapter 31.12 or 30A.04 RCW to provide loan origination and may contract with a third-party entity to provide loan servicing for the program. The Washington student achievement council must use an open and competitive bid process in the selection of one or more financial institutions for loan origination and servicing for the program. A third-party entity providing loan servicing shall comply with all of the requirements for student education loan servicers under chapter 31.04 RCW.
(4) The Washington student achievement council may retain a consultant to design a loan program, including one or more financial advisors, to provide consultation on the sustainability of the loan program.
(5) The Washington student achievement council shall provide a report on the design, sustainability, and implementation plan for the program to the governor and the higher education committees of the legislature by December 1, 2023, in accordance with RCW 43.01.036.
[ 2023 c 389 s 3; 2022 c 206 s 3.]

catchline: Program design recommendations—Consultation on sustainability.


title: RCW 28B.93.030

text:
(1) The Washington student loan program is created to assist students who need additional financial support to obtain postsecondary education. Beginning in the 2025-26 academic year, the office may award student loans under the program to eligible students from the funds available in RCW 28B.93.060.
(2) The program shall be administered by the office. To the extent practicable, the program design must include the recommendations for program design as provided in the report required under RCW 28B.93.020, including that the Washington student loan account have a minimum life cycle of seven years and that loans issued under the program do not exceed 2.5 percent.
(3) The office is responsible for providing administrative support to execute the duties and responsibilities provided in this chapter. The duties and responsibilities include:
(a) Ensure institutions of higher education have a policy for awarding student loans under the program that prioritizes funding for eligible students who have greater unmet financial need, are lowest income, are first generation college students, are demographically underrepresented, do not qualify for federally funded student financial aid, or who have received loans under the program in prior years;
(b) Issue low-interest student loans not to exceed 2.5 percent, of which interest accrues during all periods except when enrolled in an eligible graduate degree program;
(c) Define the terms of repayment, which shall not exceed 25 years in length unless provided for under (f) of this subsection;
(d) Collect and manage repayments from borrowers;
(e) Establish an appeals process;
(f) Exercise discretion to revise repayment obligations in certain cases, such as economic hardship or disability;
(g) Publicize the program; and
(h) Adopt necessary rules.
(4) The office is responsible for establishing and administering an appeals process that resolves appeals from borrowers within ninety days of receipt.
[ 2023 c 389 s 4; 2022 c 206 s 4.]

catchline: Program administration.


title: RCW 28B.93.040

text:
The office may contract with one or more state-based financial institutions regulated by either chapter 31.12 RCW or chapter 30A.04 RCW to provide loan origination and may contract with a third-party entity to provide loan servicing for the program. A third-party entity providing loan servicing shall comply with all of the requirements for student education loan servicers under chapter 31.04 RCW.
[ 2023 c 389 s 5; 2022 c 206 s 5.]

catchline: Loan origination—Third-party loan servicing.


title: RCW 28B.93.050

text:
(1) The office shall collect data on the program in collaboration with the institutions of higher education. The data must include, but is not limited to:
(a) The number of eligible students who were awarded a student loan;
(b) The number of borrowers;
(c) The average borrowed annual and total balances;
(d) Borrower demographics;
(e) The institutions of higher education and educational fields of borrowers;
(f) Postgraduation employment data;
(g) Time to degree completion; and
(h) Repayment statistics, including:
(i) The number of borrowers in active repayment, deferment, delinquency, forbearance, and default;
(ii) The average time it took for borrowers to enter delinquency and default;
(iii) Demographic and educational data of borrowers enrolled in the income-based repayment plan option;
(iv) Demographic and educational data of borrowers in different repayment statuses, including delinquency and default; and
(v) Information about what happened to borrowers who defaulted.
(2) Beginning December 1, 2027, and in compliance with RCW 43.01.036, the office must submit an annual report on the data collected under subsection (1) of this section and any other relevant information regarding the program to the higher education committees of the legislature.
[ 2023 c 389 s 6; 2022 c 206 s 6.]

catchline: Data collection.


title: RCW 28B.93.060

text:
(1) The Washington student loan account is created in the state treasury. All receipts from the Washington student loan program must be deposited in the account. Expenditures from the account may be used only for administration and the issuance of new student loans. Moneys in the account may be spent only after appropriation. During the 2023-2025 and 2025-2027 fiscal biennia, the legislature may direct the state treasurer to make transfers of moneys in the Washington student loan account to the state general fund.
(2)(a) The legislature may appropriate no more than a total of $40,000,000 for the program during four consecutive fiscal years, beginning with the first fiscal year from which loans are issued from the account. In the fifth fiscal year following the fiscal year in which the first student loan was issued, the legislature may appropriate up to $10,000,000 for the program.
(b) The legislature may appropriate moneys from the account for the administrative and implementation costs of the program in the fiscal years prior to the first fiscal year in which loans are issued from the account.
[ 2025 c 424 s 927. Prior: 2023 c 475 s 924; 2023 c 389 s 7; 2022 c 206 s 7.]
Notes:
Effective date—2025 c 424: See note following RCW 9.46.100.
Effective date—2023 c 475: See note following RCW 16.76.030.

catchline: Washington student loan account.


title: RCW 28B.94.010

text:
The definitions in this section apply throughout this chapter unless the context clearly requires otherwise.
(1) "Council" means the Washington student achievement council.
(2) "Financial institution" has the same meaning as in RCW 7.88.010.
(3) "Interest rate buy down incentive" means the use of state funds to enable qualified borrowers to receive below market rate interest rates for the purposes of this chapter.
(4) "Loan loss reserve coverage" means partial risk coverage to financial institutions to cover losses on qualified loans according to the terms set forth in the contract between the agency and the financial institution for the purposes of this chapter.
(5) "Program" means the Washington student loan refinancing program.
(6) "Qualified borrower" means an individual meeting all of the following requirements:
(a) Resident of the state of Washington;
(b) Is enrolled in, or has completed, a certificate, associate's, bachelor's, graduate, or professional degree program; and
(c) Other criteria as deemed appropriate by the council.
(7) "Qualified loan" means a loan or a portion of a loan made by a financial institution to a qualified borrower to refinance an existing student loan under the program. Only a federal direct PLUS loan or a private student loan determined by the financial institution to be an educational loan that is nondischargeable in bankruptcy as set forth in 11 U.S.C. Sec. 523 as it existed on January 14, 2019, shall be a qualified loan eligible for refinancing. A qualified loan made under the program shall:
(a) Carry a contractual interest rate at least one-quarter of one percentage point lower than the loan being refinanced, and may be made with the interest rates, fees, and other terms and conditions agreed upon by the financial institution and the qualified borrower; and
(b) Specify that a qualified borrower's obligation under a qualified loan must be discharged if the qualified borrower dies, based on the following:
(i) An original or certified copy of the qualified borrower's death certificate;
(ii) An accurate and complete photocopy of the original or certified copy of the qualified borrower's death certificate;
(iii) An accurate and complete original or certified copy of the qualified borrower's death certificate that is scanned and submitted electronically or sent by facsimile transmission; or
(iv) Verification of the qualified borrower's death through an authoritative federal or state electronic database approved for use by the council.
(8) This section expires July 1, 2029.
[ 2019 c 406 s 50.]
Notes:
Findings—Intent—2019 c 406: See note following RCW 43.79.195.
Findings—Short title—2019 c 406: See notes following RCW 28B.92.200.
Findings—2019 c 406: See note following RCW 28B.94.020.
Findings—Intent—2019 c 406: See note following RCW 28C.30.050.
Findings—Intent—2019 c 406: See note following RCW 43.216.135.

catchline: Definitions. (Expires July 1, 2029.)


title: RCW 28B.94.020

text:
(1) Subject to the availability of amounts appropriated for this specific purpose, the Washington student loan refinancing program is created.
(2) The program shall be administered by the council. To execute the program the council shall contract with up to five financial institutions. The financial institutions, in consultation with the council, may leverage the interest rate buy down incentive or the loan loss reserve coverage, or some combination thereof, to refinance existing student loans. In administering the program, the council may:
(a) Impose reasonable limits on the terms of qualified loans;
(b) Impose reasonable limits on the terms of qualified borrowers;
(c) Impose reasonable limits on the use of state funds for the marketing on qualified loan products by financial institutions;
(d) Establish minimum reporting requirements for financial institutions participating in the program;
(e) Establish minimum required disclosures by financial institutions for qualified loans. At a minimum, the disclosures must notify qualified borrowers of the:
(i) Loss of borrower protections including income contingent repayment and public service loan forgiveness options if the qualified borrower is refinancing a federal direct PLUS student loan under this chapter; and
(ii) Estimated total cost of the qualified loan, including accrued interest under this chapter;
(f) Appoint and use advisory committees and the department of financial institutions as needed to provide program guidance and direction;
(g) Formulate and adopt all other policies and rules necessary for the efficient administration of the program;
(h) Make, execute, and deliver contracts, conveyances, and other instruments necessary to the exercise and discharge of its powers and duties under this chapter; and
(i) Perform all acts necessary and proper to carry out the duties and responsibilities of the program under this chapter.
(3) On a biennial basis beginning July 1, 2020, the council must report to the appropriate committees of the legislature the:
(a) Number of financial institutions currently under contract through the program;
(b) Number of qualified student loans successfully refinanced under the program;
(c) Qualified borrower requirements established by the council and the financial institutions;
(d) Demographic information for borrowers that includes gender, race or ethnicity, income level, and geography; and
(e) Estimated total savings by qualified borrowers with qualified loans as defined by the difference between what the student would have paid under the existing loan and what the student would pay when given the option to refinance.
(4) This section expires July 1, 2029.
[ 2019 c 406 s 51.]
Notes:
Findings—2019 c 406: "The legislature finds that a postsecondary credential is essential to Washingtonians' ability to attain jobs with good salaries and advancement opportunities, and that meeting the increasing demand for credentialed workers to fill jobs in Washington is essential to the future health of the state's economy. The legislature finds that the amount of debt that individual Washingtonians incur in pursuit of postsecondary credentials represents a growing burden on individuals and on the state's economy at large that negatively impacts individuals' ability to obtain a postsecondary credential, as well as their ability to save for retirement, purchase a home, and start a family. The legislature finds that giving Washingtonians new tools to address this burden is necessary to help make higher education more accessible and affordable." [ 2019 c 406 s 49.]
Findings—Intent—2019 c 406: See note following RCW 43.79.195.
Findings—Short title—2019 c 406: See notes following RCW 28B.92.200.
Findings—Intent—2019 c 406: See note following RCW 28C.30.050.
Findings—Intent—2019 c 406: See note following RCW 43.216.135.

catchline: Program administration—Report. (Expires July 1, 2029.)


title: RCW 28B.95.010

text:
(1) The Washington advanced college tuition payment program is established to help make higher education affordable and accessible to all citizens of the state of Washington by offering a savings incentive that will protect purchasers and beneficiaries against rising tuition costs.
(2) Subject to the availability of amounts appropriated for this specific purpose, the Washington college savings program is established to provide an additional financial option for individuals, organizations, and families to save for college.
(3) These programs are designed to encourage savings and enhance the ability of Washington citizens to obtain financial access to institutions of higher education. In addition, the programs encourage elementary and secondary school students to do well in school as a means of preparing for and aspiring to higher education attendance. These programs are intended to promote a well-educated and financially secure population to the ultimate benefit of all citizens of the state of Washington.
[ 2016 c 69 s 1; 1997 c 289 s 1.]

catchline: Washington advanced college tuition payment program—Washington college savings program—Established.


title: RCW 28B.95.020

text:
The definitions in this section apply throughout this chapter, unless the context clearly requires otherwise.
(1) "Academic year" means the regular nine-month, three-quarter, or two-semester period annually occurring between August 1st and July 31st.
(2) "Account" means the Washington advanced college tuition payment program account established for the deposit of all money received by the office from eligible purchasers and interest earnings on investments of funds in the account, as well as for all expenditures on behalf of eligible beneficiaries for the redemption of tuition units and for the development of any authorized college savings program pursuant to RCW 28B.95.150.
(3) "Advisor sold" means a channel through which a broker dealer, investment advisor, or other financial intermediary recommends the Washington college savings program established pursuant to RCW 28B.95.010 to eligible investors and assists with the opening and servicing of individual college savings program accounts.
(4) "College savings program account" means the Washington college savings program account established pursuant to RCW 28B.95.085.
(5) "Committee on advanced tuition payment and college savings" or "committee" means a committee of the following members: The state treasurer, the director of the office of financial management, the director of the office, or their designees, and two members to be appointed by the governor, one representing program participants and one private business representative with marketing, public relations, or financial expertise.
(6) "Contractual obligation" means a legally binding contract of the state with the purchaser and the beneficiary establishing that purchases of tuition units in the advanced college tuition payment program will be worth the same number of tuition units at the time of redemption as they were worth at the time of the purchase, except as provided in *RCW 28B.95.030 (7) and (8).
(7) "Dual credit fees" means any fees charged to a student for participation in college in the high school under RCW 28A.600.287 or running start under RCW 28A.600.310.
(8) "Eligible beneficiary" means the person designated as the individual whose education expenses are to be paid from the advanced college tuition payment program or the college savings program. Qualified organizations, as allowed under section 529 of the federal internal revenue code, purchasing tuition unit contracts as future scholarships need not designate a beneficiary at the time of purchase.
(9) "Eligible contributor" means an individual or organization that contributes money for the purchase of tuition units, and for an individual college savings program account established pursuant to this chapter for an eligible beneficiary.
(10) "Eligible purchaser" means an individual or organization that has entered into a tuition unit contract with the governing body for the purchase of tuition units in the advanced college tuition payment program for an eligible beneficiary, or that has entered into a participant college savings program account contract for an eligible beneficiary. The state of Washington may be an eligible purchaser for purposes of purchasing tuition units to be held for granting Washington college bound scholarships.
(11) "Full-time tuition charges" means resident tuition charges at a state institution of higher education for enrollments between ten credits and eighteen credit hours per academic term.
(12) "Governing body" means the committee empowered by the legislature to administer the Washington advanced college tuition payment program and the Washington college savings program.
(13) "Individual college savings program account" means the formal record of transactions relating to a Washington college savings program beneficiary.
(14) "Institution of higher education" means an institution that offers education beyond the secondary level and is recognized by the internal revenue service under chapter 529 of the internal revenue code.
(15) "Investment board" means the state investment board as defined in chapter 43.33A RCW.
(16) "Investment manager" means the state investment board, another state, or any other entity as selected by the governing body, including another college savings plan established pursuant to section 529 of the internal revenue code.
(17) "Office" means the office of student financial assistance as defined in chapter 28B.76 RCW.
(18) "Owner" means the eligible purchaser or the purchaser's successor in interest who shall have the exclusive authority to make decisions with respect to the tuition unit contract or the individual college savings program contract. The owner has exclusive authority and responsibility to establish and change the asset investment options for a beneficiaries' individual college savings program account.
(19) "Participant college savings program account contract" means a contract to participate in the Washington college savings program between an eligible purchaser and the office.
(20) "State institution of higher education" means institutions of higher education as defined in RCW 28B.10.016.
(21) "Tuition and fees" means undergraduate tuition and services and activities fees as defined in RCW 28B.15.020 and 28B.15.041 rounded to the nearest whole dollar. For purposes of this chapter, services and activities fees do not include fees charged for the payment of bonds heretofore or hereafter issued for, or other indebtedness incurred to pay, all or part of the cost of acquiring, constructing, or installing any lands, buildings, or facilities.
(22) "Tuition unit contract" means a contract between an eligible purchaser and the governing body, or a successor agency appointed for administration of this chapter, for the purchase of tuition units in the advanced college tuition payment program for a specified beneficiary that may be redeemed at a later date for an equal number of tuition units, except as provided in *RCW 28B.95.030 (7) and (8).
(23) "Unit cash value price" means the total value of assets under management in the advanced college tuition payment program on a date to be determined by the committee, divided by the total number of outstanding units purchased by eligible purchasers before July 1, 2015, and any outstanding units accrued by eligible purchasers as a result of the July 2017 unit rebase. For purposes of this calculation, the total market value of assets shall exclude the total accumulated market value of proceeds from units purchased after June 30, 2015.
(24) "Unit purchase price" means the minimum cost to purchase one tuition unit in the advanced college tuition payment program for an eligible beneficiary. Generally, the minimum purchase price is one percent of the undergraduate tuition and fees for the current year, rounded to the nearest whole dollar, adjusted for the costs of administration and adjusted to ensure the actuarial soundness of the account. The analysis for price setting shall also include, but not be limited to consideration of past and projected patterns of tuition increases, program liability, past and projected investment returns, and the need for a prudent stabilization reserve.
[ 2021 c 71 s 7; 2018 c 188 s 1; 2016 c 69 s 2; 2015 3rd sp.s. c 36 s 6; 2015 c 202 s 5. Prior: 2012 c 229 s 606; 2011 1st sp.s. c 11 s 168; 2007 c 405 s 8; 2005 c 272 s 1; 2004 c 275 s 59; 2001 c 184 s 1; 2000 c 14 s 1; 1997 c 289 s 2.]
Notes:
*Reviser's note: RCW 28B.95.030 was amended by 2021 c 248 s 1, changing subsections (7) and (8) to subsections (9) and (10), respectively.
Effective date—2018 c 188: See note following RCW 28B.95.030.
Short title—2015 3rd sp.s. c 36: See note following RCW 28B.15.031.
Findings—Intent—2015 c 202: See note following RCW 28A.320.196.
Effective date—2012 c 229 ss 101, 117, 401, 402, 501 through 594, 601 through 609, 701 through 708, 801 through 821, 902, and 904: See note following RCW 28B.77.005.
Effective date—2011 1st sp.s. c 11 ss 101-103, 106-202, 204-244, and 301: See note following RCW 28B.76.020.
Intent—2011 1st sp.s. c 11: See note following RCW 28B.76.020.
Part headings not law—2004 c 275: See note following RCW 28B.76.090.


title: RCW 28B.95.025

text:
The office shall maintain appropriate offices and employ and fix compensation of such personnel as may be necessary to perform the advanced college tuition payment program and the Washington college savings program duties. The office shall consult with the governing body on the selection, compensation, and other issues relating to the employment of the program director. The positions are exempt from classified service under chapter 41.06 RCW. The employees shall be employees of the office.
[ 2016 c 69 s 3; 2011 1st sp.s. c 11 s 169; 2000 c 14 s 2; 1998 c 69 s 2.]
Notes:
Effective date—2011 1st sp.s. c 11 ss 101-103, 106-202, 204-244, and 301: See note following RCW 28B.76.020.
Intent—2011 1st sp.s. c 11: See note following RCW 28B.76.020.
Effective date—1998 c 69: "This act is necessary for the immediate preservation of the public peace, health, or safety, or support of the state government and its existing public institutions, and takes effect immediately [March 20, 1998]." [ 1998 c 69 s 6.]

catchline: Offices and personnel.


title: RCW 28B.95.030

text:
(1) The Washington advanced college tuition payment program shall be administered by the committee on advanced tuition payment which shall be chaired by the director of the office. The committee shall be supported by staff of the office.
(2)(a) The Washington advanced college tuition payment program shall consist of the sale of tuition units, which may be redeemed by the beneficiary at a future date for an equal number of tuition units regardless of any increase in the price of tuition, that may have occurred in the interval, except as provided in subsections (9) and (10) of this section.
(b) Each purchase shall be worth a specific number of or fraction of tuition units at each state institution of higher education as determined by the governing body, except as provided in subsections (9) and (10) of this section.
(c) The number of tuition units necessary to pay for a full year's, full-time undergraduate tuition and fee charges at a state institution of higher education shall be set by the governing body at the time a purchaser enters into a tuition unit contract, except as provided in subsections (9) and (10) of this section.
(d) The governing body may limit the number of tuition units purchased by any one purchaser or on behalf of any one beneficiary, however, no limit may be imposed that is less than that necessary to achieve four years of full-time, undergraduate tuition charges at a state institution of higher education. The governing body also may, at its discretion, limit the number of participants, if needed, to ensure the actuarial soundness and integrity of the program.
(e) While the Washington advanced college tuition payment program is designed to help all citizens of the state of Washington, the governing body may determine residency requirements for eligible purchasers and eligible beneficiaries to ensure the actuarial soundness and integrity of the program.
(3)(a) No tuition unit may be redeemed until two years after the purchase of the unit.
(b) Units may be redeemed for enrollment at any institution of higher education that is recognized by the internal revenue service under chapter 529 of the internal revenue code. Units may also be redeemed to pay for dual credit fees.
(c) Units redeemed at a nonstate institution of higher education or for graduate enrollment shall be redeemed at the rate for state public institutions in effect at the time of redemption.
(4) The governing body shall determine the conditions under which the tuition benefit may be transferred to another family member. In permitting such transfers, the governing body may not allow the tuition benefit to be bought, sold, bartered, or otherwise exchanged for goods and services by either the beneficiary or the purchaser.
(5) The governing body shall administer the Washington advanced college tuition payment program in a manner reasonably designed to be actuarially sound, such that the assets of the trust will be sufficient to defray the obligations of the trust including the costs of administration. The governing body may, at its discretion, discount the minimum purchase price for certain kinds of purchases such as those from families with young children, as long as the actuarial soundness of the account is not jeopardized.
(6) The governing body shall annually determine current value of a tuition unit.
(7) The governing body shall adopt a unit price of no more than 10 percent, including administrative fees, above the current unit payout value if:
(a) The best estimate funded status of the program provided by the state actuary is in excess of at least 120 percent as of July 1st of each year; and
(b) Tuition and fee increases for the academic year immediately following the July 1st best estimate funded status will be no more than the average annual percentage growth rate in the median hourly wage for Washington for the previous 14 years as the wage is determined by the federal bureau of labor statistics.
(8) For units purchased at the 2020-21 unit price, the governing body shall grant additional units to each account holder equivalent to the difference between the 2020-21 unit price and the 2020-21 unit payout value, after adjusting the unit payout value 10 percent above the current price, including administrative fees, as determined by the governing body.
(9) For the 2015-16 and 2016-17 academic years only, the governing body shall set the payout value for units redeemed during that academic year only at one hundred seventeen dollars and eighty-two cents per unit. For academic years after the 2016-17 academic year, the governing body shall make program adjustments it deems necessary and appropriate to ensure that the total payout value of each account on October 9, 2015, is not decreased or diluted as a result of the initial application of any changes in tuition under section 3, chapter 36, Laws of 2015 3rd sp. sess. In the event the committee or governing body provides additional units under chapter 36, Laws of 2015 3rd sp. sess., the committee and governing body shall also increase the maximum number of units that can be redeemed in any year to mitigate the reduction in available account value during any year as a result of chapter 36, Laws of 2015 3rd sp. sess. The governing body must notify holders of tuition units after the adjustment in this subsection is made and must include a statement concerning the adjustment.
(10) The governing body shall allow account owners who purchased units before July 1, 2015, to redeem such units at the unit cash value price provided that all the redeemed funds are deposited immediately into an eligible Washington college savings program account established by the governing body. Within ninety days of April 15, 2018, the committee, in consultation with the state actuary and state investment board, shall:
(a) Establish a period that is not less than ninety days during which eligible purchasers may redeem units at the unit cash value price for the purposes of this subsection and provide at least thirty days' notice prior to the ninety-day window to all eligible account holders about the redemption option; and
(b) Establish the unit cash value price. The committee, in consultation with the state actuary and the state investment board, may revalue the unit cash value price established in this subsection (10)(b) up to three times during the ninety-day period in which eligible purchasers may redeem units for the unit cash value price.
(11)(a) After the governing body completes the requirements of subsection (10) of this section, the governing body shall adjust, by March 1, 2019, all remaining unredeemed units purchased before July 1, 2015, as follows:
(i) First, the governing body shall take the difference between the average unit purchase price in each individual's account and the 2016-17 unit payout value and increase the number of units in each individual's account by a number of units of equivalent total value at the 2017-18 unit purchase price, if the average unit purchase price is more than the 2016-17 unit payout value; and
(ii) Second, after (a)(i) of this subsection is completed, the governing body, with assistance from the state actuary, shall grant an additional number of units to each account holder with unredeemed and purchased units before July 1, 2015, in order to lower the best-estimate funded status of the program to one hundred twenty-five percent, subject to a limit of an increase of fifteen percent of unredeemed and purchased units per account holder. The state actuary shall select the measurement date, assumptions, and methods necessary to perform an actuarial measurement consistent with the purpose of this subsection.
(b) For the purpose of this subsection (11), and for account holders with uncompleted custom monthly contracts, the governing body shall only include purchased and unredeemed units before July 1, 2015.
(12) The governing body shall collect an amortization fee as a component of each future unit sold whenever the governing body determines amortization fees are necessary to increase the best-estimate funded status of the program.
(13) The governing body shall promote, advertise, and publicize the Washington advanced college tuition payment program. Materials and online publications advertising the Washington advanced college tuition payment program shall include a disclaimer that the Washington advanced college tuition payment program's guarantee is that one hundred tuition units will equal one year of full-time, resident, undergraduate tuition at the most expensive state institution of higher education, and that if resident, undergraduate tuition is reduced, a tuition unit may lose monetary value.
(14) In addition to any other powers conferred by this chapter, the governing body may:
(a) Impose reasonable limits on the number of tuition units or units that may be used in any one year;
(b) Determine and set any time limits, if necessary, for the use of benefits under this chapter;
(c) Impose and collect administrative fees and charges in connection with any transaction under this chapter;
(d) Appoint and use advisory committees and the state actuary as needed to provide program direction and guidance;
(e) Formulate and adopt all other policies and rules necessary for the efficient administration of the program;
(f) Consider the addition of an advanced payment program for room and board contracts and also consider a college savings program;
(g) Purchase insurance from insurers licensed to do business in the state, to provide for coverage against any loss in connection with the account's property, assets, or activities or to further insure the value of the tuition units;
(h) Make, execute, and deliver contracts, conveyances, and other instruments necessary to the exercise and discharge of its powers and duties under this chapter;
(i) Contract for the provision for all or part of the services necessary for the management and operation of the program with other state or nonstate entities authorized to do business in the state;
(j) Contract for other services or for goods needed by the governing body in the conduct of its business under this chapter;
(k) Contract with financial consultants, actuaries, auditors, and other consultants as necessary to carry out its responsibilities under this chapter;
(l) Solicit and accept cash donations and grants from any person, governmental agency, private business, or organization; and
(m) Perform all acts necessary and proper to carry out the duties and responsibilities of this program under this chapter.
[ 2021 c 248 s 1; 2018 c 188 s 2; 2016 c 69 s 4; 2015 3rd sp.s. c 36 s 7; 2015 c 202 s 6. Prior: 2011 1st sp.s. c 12 s 2; 2011 1st sp.s. c 11 s 170; 2005 c 272 s 2; 2000 c 14 s 3; 1997 c 289 s 3.]
Notes:
Effective date—2018 c 188: "This act is necessary for the immediate preservation of the public peace, health, or safety, or support of the state government and its existing public institutions, and takes effect April 15, 2018." [ 2018 c 188 s 4.]
Short title—2015 3rd sp.s. c 36: See note following RCW 28B.15.031.
Findings—Intent—2015 c 202: See note following RCW 28A.320.196.
Effective date—2011 1st sp.s. c 11 ss 101-103, 106-202, 204-244, and 301: See note following RCW 28B.76.020.
Intent—2011 1st sp.s. c 11: See note following RCW 28B.76.020.


title: RCW 28B.95.032

text:
(1) The Washington college savings program shall be administered by the committee, which shall be chaired by the director of the office. The committee shall be supported by staff of the office.
(2) The Washington college savings program shall consist of the college savings program account and the individual college savings program accounts, and shall allow an eligible purchaser to establish an individual college savings program account for an eligible beneficiary whereby the money in the account may be invested and used for enrollment at any institution of higher education that is recognized by the internal revenue service under chapter 529 of the internal revenue code. Money in the account may also be used to pay for dual credit fees.
(3) The Washington college savings program is open to eligible purchasers and eligible beneficiaries who are residents or nonresidents of Washington state.
(4) The Washington college savings program shall not require eligible purchasers to make an initial minimum contribution in any amount that exceeds twenty-five dollars when establishing a new account.
(5) The committee may contract with other state or nonstate entities that are authorized to do business in the state for the investment of moneys in the college savings program, including other college savings plans established pursuant to section 529 of the internal revenue code. The investment of eligible contributors' deposits may be in credit unions, savings and loan associations, banks, mutual savings banks, purchase life insurance, shares of an investment company, individual securities, fixed annuity contracts, variable annuity contracts, any insurance company, other 529 plans, or any investment company licensed to contract business in this state.
(6) The governing body shall determine the conditions under which control or the beneficiary of an individual college savings program account may be transferred to another family member. In permitting such transfers, the governing body may not allow the individual college savings program account to be bought, sold, bartered, or otherwise exchanged for goods and services by either the beneficiary or the purchaser.
(7) The governing body shall promote, advertise, and publicize the Washington college savings program.
(8) The governing body shall develop materials to educate potential account owners and beneficiaries on (a) the differences between the advanced college tuition payment program and the Washington college savings program, and (b) how the two programs can complement each other to save towards the full cost of attending college.
(9) In addition to any other powers conferred by this chapter, the governing body may:
(a) Impose limits on the amount of contributions that may be made on behalf of any eligible beneficiary;
(b) Determine and set age limits and any time limits for the use of benefits under this chapter;
(c) Establish incentives to encourage participation in the Washington college savings program to include but not be limited to entering into agreements with any public or private employer under which an employee may agree to have a designated amount deducted in each payroll period from the wages due the employee for the purpose of making contributions to a participant college savings program account;
(d) Impose and collect administrative fees and charges in connection with any transaction under this chapter;
(e) Appoint and use advisory committees and the state actuary as needed to provide program direction and guidance;
(f) Formulate and adopt all other policies and rules necessary for the efficient administration of the program;
(g) Purchase insurance from insurers licensed to do business in the state, to provide for coverage against any loss in connection with the account's property, assets, or activities;
(h) Make, execute, and deliver contracts, conveyances, and other instruments necessary to the exercise and discharge of its powers and duties under this chapter;
(i) Contract for the provision for all or part of the services necessary for the management and operation of the Washington college savings program with other state or nonstate entities authorized to do business in the state for the investment of moneys;
(j) Contract for other services or for goods needed by the governing body in the conduct of its business under this chapter;
(k) Contract with financial consultants, actuaries, auditors, and other consultants as necessary to carry out its responsibilities under this chapter;
(l) Review advisor sold 529 college savings plan programs used by other states to supplement direct-sold channels, provide additional program access and options, increase overall college savings by residents, and if deemed appropriate, establish an advisor sold option for the Washington college savings program;
(m) Solicit and accept gifts, bequests, cash donations, and grants from any person, governmental agency, private business, or organization; and
(n) Perform all acts necessary and proper to carry out the duties and responsibilities of the Washington college savings program under this chapter.
(10) It is the intent of the legislature to establish policy goals for the Washington college savings program. The policy goals established under this section are deemed consistent with creating a nationally competitive 529 savings plan. The Washington college savings program should support achievement of these policy goals:
(a) Process: To have an investment manager design a thoughtful, well-diversified glide path for age-based portfolios and offer a robust suite of investment options;
(b) People: To have a well-resourced, talented, and long-tenured investment manager;
(c) Parent: To demonstrate that the committee is a good caretaker of college savers' capital and can manage the plan professionally;
(d) Performance: To demonstrate that the program's options have earned their keep with solid risk-adjusted returns over relevant time periods; and
(e) Price: To demonstrate that the investment options are a good value.
(11) The powers, duties, and functions of the Washington college savings program must be performed in a manner consistent with the policy goals in subsection (10) of this section.
(12) The policy goals in this section are intended to be the basis for establishing detailed and measurable objectives and related performance measures.
(13) It is the intent of the legislature that the committee establish objectives and performance measures for the investment manager to progress toward the attainment of the policy goals in subsection (10) of this section. The committee shall submit objectives and performance measures to the legislature for its review and shall provide an updated report on the objectives and measures before the regular session of the legislature during even-numbered years thereafter.
[ 2016 c 69 s 5.]

catchline: Washington college savings program.


title: RCW 28B.95.035

text:
No member of the committee is liable for the negligence, default, or failure of any other person or members of the committee to perform the duties of office and no member may be considered or held to be an insurer of the funds or assets of any of the advanced college tuition payment program or any of the Washington college savings program.
[ 2016 c 69 s 7; 1998 c 69 s 3.]
Notes:
Effective date—1998 c 69: See note following RCW 28B.95.025.

catchline: Committee members—Liability.


title: RCW 28B.95.040

text:
The governing body may, at its discretion, allow an organization to purchase tuition units or establish savings plans for future use as scholarships. Such organizations electing to purchase tuition units or establish Washington college savings program accounts for this purpose must enter into a contract with the governing body which, at a minimum, ensures that the scholarship shall be freely given by the purchaser to a scholarship recipient. For such purchases, the purchaser need not name a beneficiary until four months before the date when the tuition units are first expected to be used.
The governing body shall formulate and adopt such rules as are necessary to determine which organizations may qualify to purchase tuition units or establish Washington college savings program accounts for scholarships under this section. The governing body also may consider additional rules for the use of tuition units or Washington college savings program accounts if purchased as scholarships.
The governing body may establish a scholarship fund with moneys from the Washington advanced college tuition payment program account. A scholarship fund established under this authority shall be administered by the office and shall be provided to students who demonstrate financial need. Financial need is not a criterion that any other organization need consider when using tuition units as scholarships. The office also may establish its own corporate-sponsored scholarship fund under this chapter.
[ 2016 c 69 s 8; 2011 1st sp.s. c 11 s 171; 1997 c 289 s 4.]
Notes:
Effective date—2011 1st sp.s. c 11 ss 101-103, 106-202, 204-244, and 301: See note following RCW 28B.76.020.
Intent—2011 1st sp.s. c 11: See note following RCW 28B.76.020.

catchline: Purchase of tuition units or establishment of savings plans by organizations—Rules—Scholarship fund.


title: RCW 28B.95.045

text:
(1) The committee shall create an expedited process by which owners can complete a direct rollover or investment change of a 529 account from a:
(a) State-sponsored prepaid tuition plan to a state-sponsored college savings plan;
(b) State-sponsored college savings plan to a state-sponsored prepaid tuition plan; or
(c) State-sponsored prepaid tuition plan or a state-sponsored college savings plan to an out-of-state eligible 529 plan.
(2) The committee shall report annually to the governor and the appropriate committees of the legislature on (a) the number of accounts that have been rolled into the Washington college savings program from out of state and (b) the number of accounts rolled out of the Washington college savings program to 529 plans into other states.
[ 2018 c 188 s 3; 2016 c 69 s 6.]
Notes:
Effective date—2018 c 188: See note following RCW 28B.95.030.

catchline: Rollover or investment change of 529 accounts to state-sponsored plans or eligible 529 plans—Report.


title: RCW 28B.95.050

text:
The Washington advanced college tuition payment program is an essential state governmental function. Contracts with eligible participants shall be contractual obligations legally binding on the state as set forth in this chapter. If, and only if, the moneys in the account are projected to be insufficient to cover the state's contracted expenses for a given biennium, then the legislature shall appropriate to the account the amount necessary to cover such expenses.
The tuition and fees charged by an eligible institution of higher education to an eligible beneficiary for a current enrollment shall be paid by the account to the extent the beneficiary has remaining unused tuition units for the appropriate school.
[ 2000 c 14 s 4; 1997 c 289 s 5.]

catchline: Contractual obligation—Legally binding—Use of state appropriations.


title: RCW 28B.95.060

text:
(1) The Washington advanced college tuition payment program account is created in the custody of the state treasurer. The account shall be a discrete nontreasury account retaining its interest earnings in accordance with RCW 43.79A.040.
(2)(a) Except as provided in (b) of this subsection, the governing body shall deposit in the account all money received for the program. The account shall be self-sustaining and consist of payments received from purchasers of tuition units and funds received from other sources, public or private. With the exception of investment and operating costs associated with the investment of money by the investment board paid under RCW 43.33A.160 and 43.84.160, the account shall be credited with all investment income earned by the account. Disbursements from the account are exempt from appropriations and the allotment provisions of chapter 43.88 RCW. Money used for program administration is subject to the allotment of all expenditures. However, an appropriation is not required for such expenditures. Program administration shall include, but not be limited to: The salaries and expenses of the program personnel including lease payments, travel, and goods and services necessary for program operation; contracts for program promotion and advertisement, audits, and account management; and other general costs of conducting the business of the program.
(b) All money received by the program from the office for the GET ready for math and science scholarship program shall be deposited in the GET ready for math and science scholarship account created in RCW 28B.105.110.
(3) The assets of the account may be spent without appropriation for the purpose of making payments to institutions of higher education on behalf of the qualified beneficiaries, making refunds, transfers, or direct payments upon the termination of the Washington advanced college tuition payment program. Disbursements from the account shall be made only on the authorization of the governing body.
(4) With regard to the assets of the account, the state acts in a fiduciary, not ownership, capacity. Therefore the assets of the program are not considered state money, common cash, or revenue to the state.
[ 2011 1st sp.s. c 11 s 172; 2007 c 214 s 13; 2000 c 14 s 5; 1998 c 69 s 4; 1997 c 289 s 6.]
Notes:
Effective date—2011 1st sp.s. c 11 ss 101-103, 106-202, 204-244, and 301: See note following RCW 28B.76.020.
Intent—2011 1st sp.s. c 11: See note following RCW 28B.76.020.
Effective date—1998 c 69: See note following RCW 28B.95.025.

catchline: Washington advanced college tuition payment program account.