Title 28B, HIGHER EDUCATION

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. Form…

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 o…

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; 196…

(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…

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 me…

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 t…

(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 e…

(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…

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…

(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 avera…

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 assoc…

(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,…

(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 availabl…

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…

(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 an…

(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…

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"…

(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 institu…

(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 cost…

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 Washi…

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 s…

(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 tui…

(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 progra…

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 paym…

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 mu…

(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…

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 pro…

(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 su…

(1) The investment board has the full power to invest, reinvest, manage, contract, sell, or exchange investment money in the account. All investment and operating costs associated with the investment of money shall be paid pursuant to RCW 43.33A.160 and 43.84.160. With the except…

The governing body shall annually evaluate, and cause to be evaluated by the state actuary, the soundness of the advanced college tuition payment program account and determine the additional assets needed, if any, to defray the obligations of the account. The governing body may, …

(1) The Washington college savings 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) The governing body shall deposit in the account all mone…

(1) The investment manager has the full power to invest, reinvest, manage, contract, sell, or exchange investment money in the Washington college savings program without limitation as to the amount pursuant to RCW 43.84.150 and 43.33A.140. All investment and operating costs assoc…

(1) In the event that the legislature determines that the advanced college tuition payment program is not financially feasible, or for any other reason, the legislature may declare the discontinuance of the program. At the time of such declaration, the governing body will cease t…

The governing body shall begin and continue to accept applications for new tuition unit contracts and authorize the sale of new tuition units by July 1, 2018. Upon reopening the advanced college tuition payment program, in any year in which the total annual sale of tuition units …

(1) The governing body, in planning and devising the advanced college tuition payment program and the Washington college savings program, shall consult with the investment board, the state treasurer, the office of financial management, and the institutions of higher education. (2…

(1) The intent of the Washington advanced college tuition payment program is to redeem tuition units for attendance at an institution of higher education. Refunds shall be issued under specific conditions that may include the following: (a) Certification that the beneficiary, who…

The intent of the Washington college savings program is to make distributions from individual college savings program accounts for beneficiaries' attendance at public or private institutions of higher education. Federal penalties and taxes associated with 529 savings plan refunds…

In regard to bankruptcy filings and enforcement of judgments under Title 6 RCW, tuition units purchased more than two years prior to the date of filing or judgment will be considered excluded personal assets. [ 2005 c 272 s 5.]

With regard to bankruptcy filings and enforcement of judgments under Title 6 RCW, participant Washington college savings program account deposits made more than two years before the date of filing or judgment are considered excluded personal assets. [ 2016 c 69 s 16.]

(1) The committee may establish a college savings program. If such a program is established, the college savings program shall be established, in such form as may be determined by the committee, to be a qualified state tuition program as defined by the internal revenue service un…

Ownership of tuition units purchased by the office for the GET ready for math and science scholarship program under RCW 28B.105.070 shall be in the name of the state of Washington and may be redeemed by the state of Washington on behalf of recipients of GET ready for math and sci…

This chapter shall not be construed as a promise that any beneficiary shall be granted admission to any institution of higher education, will earn any specific or minimum number of academic credits, or will graduate from any such institution. In addition, this chapter shall not b…

(1) The legislature recognizes that students seeking to attend an institution of higher education or to receive training at a technical college have a variety of ways to fund their education. Students who meet Washington state residency requirements have access to state-funded fi…

The definitions in this section apply throughout this chapter unless the context clearly requires otherwise. (1) "Eligible student" means a student who: (a) Is a resident student; (b) Demonstrates financial need as defined in RCW 28B.92.030; (c) Has indicated they will attend an …

(1) The undocumented student support loan program is established. (2) The program shall be designed by the office, in consultation with financial aid professionals at institutions of higher education, state and nonprofit programs that work with eligible students, and relevant stu…

(1) The undocumented student support loan match account is created in the custody of the state treasurer as a nonappropriated account to be used solely and exclusively for the program created in RCW 28B.96.020. The purpose of the account is to provide state matching funds for the…