Understanding the GET Rebasing Process
GET completed the rebasing process on August 1, 2017. If you have not already done so, we encourage you to log in to your account now to see how rebasing impacted your account.
On July 6, 2017, the GET Committee voted to "rebase" all existing customer accounts to prepare the program for reopening to new enrollments and unit purchases and to ensure customer accounts would not lose value due to the past two years of tuition reductions at Washington's public colleges and universities.
What is "rebasing" and how did it affect GET customers?
In the simplest terms, the "rebasing" process added new units to all current GET accounts. These units were added because GET lowered the unit payout value so that it again matches in-state tuition rates.
The rebasing process did not cause the total payout value of your account to change.
Here is a quick overview of how the process worked:
- On August 1, 2017, GET reset the unit payout from $117.82 to a new amount matching GET’s original unit payout formula (i.e. 100 units = one year of resident, undergraduate tuition and state mandated fees at Washington’s most expensive public university). This means the 2017-2018 payout value was set to $103.86. On August 1, 2018, the GET payout value increased to $106.01 through July 31, 2019, due to increases in in-state tuition.
- Once the unit payout value was adjusted, existing GET customers received additional new units in their accounts in a proportion equal to the difference between the $117.82 payout value, and the $103.86 payout value.
- Because we added units to customer accounts, the GET Committee also increased the unit maximums for student beneficiaries. The previous lifetime maximum was 500 units per student, and up to 125 of those units could be used each academic year, once a student began using units. To accomodate rebasing, unit maximums were increased to a total of 600 units per student and 150 units per year (unit maximums have since been increased to 800 units per student and 200 units per year).
To learn more about the rebasing process that took place, we encourage you to read this GET Unit Rebasing Overview.