WASHINGTON

Washington Guaranteed Education Tuition

Type: Prepaid (tuition units)

Phone: 877-GET-TUIT

State tax deduction for residents: No personal income tax.

Open to nonresidents: No

Refund provisions: If cancelled withing the first six months or the account has no more than $500, all money will be returned except $50 enrollment fee. Otherwise, there are no refunds in the first two years. Then penalty of 10% of earnings.

Minimum/maximum contributions: $57 / $28,500

Enrollment: September to May

This is a well-structured prepaid plan, fully backed by the state. Proceeds are fully portable to private and out-of-state schools, but payouts not used for college are nicked by a 10%-of-earnings penalty. (You must wait two years before making withdrawals and can get back only one year's worth of tuition at a time.) There's a $50 enrollment fee.

State College Savings Plans