A growing number of grandparents, aunts, uncles and friends are contributing to a child’s GET account for special occasions. That means setting aside money now to help a child attend college in the future.

Washington’s Guaranteed Education Tuition (GET) program was established in 1998 to help families save for college. A child’s account value is guaranteed by the state to increase at the same rate as college tuition at Washington’s top public universities, even if tuition doubles or triples in the future. How much you set aside is up to you, and there are no worries about the ups and downs of the stock market. Because GET is a 529 plan, the money that families save grows tax-free, and all withdrawals are tax-free when used for qualified college expenses.

What’s often misunderstood is that youths can use their GET account to attend colleges, universities or technical schools anywhere in the country. And if they decide not to attend college, there are options to wait, transfer the account to another child, or request a refund.

Starting early (from birth through elementary school) allows parents to save significantly on the future cost of college. And if these future costs seem overwhelming, just ask anyone who’s going to college now. They’ll tell you, every little bit helps.

If a child already has an account, GET has payment coupons and gift announcements to download from their Web site. If you want to open a new account for a child, you can enroll online or mail in an enrollment form. Information is available at www.get.wa.gov or by calling 800-955-2318.

With the holidays just ahead, consider the gift of education. The best part is, this gift lasts a lifetime.