Financial Resources for K–12 Students
If your children do not qualify for THA’s Children’s Savings Account program, you still have options. Washington State offers many other ways to save!
Here are some resources:
Washington State College Bound Scholarship Program
The purpose of the program is to provide state funded financial aid to low-income students who may not consider college a possibility because of the cost. Eligibility for the scholarship is a two-part process. First, students whose families are income-eligible must submit a complete application during grade 7 or 8, and no later than June 30 of their eighth-grade year. Second, students must complete the scholarship pledge requirements and meet income-eligibility guidelines as determined by colleges using data from the student’s FAFSA or WASFA in their senior year of high school.
Guaranteed Education Tuition Program (GET)
The GET program is Washington’s 529 prepaid college tuition plan that helps families with young children save for future higher education expenses. The State of Washington guarantees that the value of your account will keep pace with the cost of college tuition, no matter how much it changes in the future. The earlier you start, the more time you have to save and the greater the opportunity for increased value of your GET account. GET account values are measured in “units,” where 100 units equals the cost of one year of resident, undergraduate tuition and state-mandated fees at Washington’s highest priced public university.
GET opened in 1998 as a way to help families save for their child’s future higher education. Since then, more than 60,000 students have used over $1.3 billion in GET benefits to help pay for qualified higher education expenses at colleges, universities, technical schools and apprenticeships nationwide and around the world.
Heritage Bank: Kids Bank Account
Heritage Bank’s Target Bonus Account for kids has no monthly account keeping fees and the ability to earn a bonus interest rate above the normal rate for every month you make at least one deposit and no withdrawals.
BECU: Early Saver Account
Teaching kids how to save is easy with our Early Saver account, designed especially for members age 17 and under. It helps kids learn about saving money, spending responsibly, and how interest rates help them earn even more.
Twin Star Credit Union: Dollar Dog Saving Account
Dollar Dog Savings Accounts will begin earning dividends with a $5 savings balance. With every $5 increment deposited thereafter, your child will receive a “Dog Dollar” that may be spent or saved (not to exceed 10 Dog Dollars per visit). You will find a store full of toys at every branch location. Your child may spend the Dollars at the store or choose to save the Dollars for another visit. Financial fitness is even more important for young people in their teens. At age 13, Dollar Dog savings accounts are automatically converted to Outfitters Savings accounts, continuing to earn dividends on balances of $5 or more. You will need to be listed as a joint owner on Financial Outfitters accounts for your children under the age of 18.