WA529 offers two savings plan options, GET and DreamAhead. Families can choose to participate in one or both programs and you can even co-mingle the funds.
A.
True
B.
False
2.
Non-Washington residents can open a DreamAhead College Savings plan, however, in order to open a GET College Savings plan both the beneficiary and the account owner need to be a Washington resident at the time the account is opened.
A.
True
B.
False
3.
The WA529 Program has a mascot, our mascot is a/an:
A.
Pig
B.
Hawk
C.
Husky
D.
Eagle
E.
Owl
4.
WA529 College Savings plans have different open enrollment periods, DreamAhead is open year-round, while GET is open from November 1 to May 31 each year.
A.
True
B.
False
5.
How many units can a GET account owner use each academic year?
A.
100 eligible units
B.
100 eligible units plus any unused rollover units from previous years
C.
200 eligible units
D.
200 eligible units plus any unused rollover units from previous years
E.
There is no limit on how many eligible units you can use per year
6.
You can contribute any amount to an established GET account, even if the amount does not purchase whole units
A.
True
B.
False
7.
The DreamAhead College Savings Plan allows you to choose between a wide range of flexible investment choices based on your student's age and your risk tolerance. Static Portfolio options automatically adjust for you as your child grows, while Year of Enrollment Portfolio options provide the account owner with control over adjusting their investments.
A.
True
B.
False
8.
If GET customers already have a Custom Monthly plan set up, do they have to fill out a new enrollment form if they want to purchase Lump Sum Units as well?
A.
Yes
B.
No
9.
How Long must GET Units be held until they are eligible for use?
A.
1 Year
B.
2 Years
C.
3 Years
D.
Units Can Be Used At Any Time
10.
You may not use 529 College Savings plan funds to repay student loan debt.
A.
True
B.
False
11.
Both GET and DreamAhead Programs have gifting options for friends and family to make a gift contribution to a student beneficiary for birthdays, holidays, important milestones or special occasions
A.
True
B.
False
12.
Can a student with 529 College Savings plan(s) qualify for Financial Aid?
A.
Yes
B.
No
13.
With DreamAhead you can open an account with as little as $__________.
A.
$5
B.
$25
C.
$50
D.
$75
E.
$100
14.
Can you use Custom Monthly units before the contract is paid in full?
A.
Yes, only if the units being used have been held for 1 year
B.
Yes, only if the units being used have been held for 2 years
C.
Yes, as long as the account is paid in full before the student graduates from College.
D.
No, accounts must be paid in full and units must be held for 2 years before they can be used
15.
College Savings plans can be used for Qualified Higher Education Expenses, including:
A.
Tuition, Books, State mandated fees, Room and Board, equipment, computers and supplies, eligible apprenticeship programs and travel
B.
Tuition, Books, State mandated fees, College Specific fees, Room and Board, equipment, computers and supplies, repay qualifying student loans and eligible apprenticeship programs
C.
Tuition, Books, State mandated fees, Room and Board, equipment, computers and supplies, repay qualifying student loans, eligible apprenticeship programs and travel
D.
Tuition, Books, State mandated fees, Room and Board, equipment, computers and supplies, repay qualifying student loans, eligible apprenticeship programs and eligible sports programs