Washington plans to start regular 529 college savings plan

Washington state took another step toward starting a traditional 529 college savings plan on Thursday, as people continue to ask for refunds from the state's prepaid tuition program, which will remain frozen for now.

The new plan would be run by the state, not an outside investment group.

The committee that runs Washington's college savings program decided at a meeting in Olympia that it will ask the Legislature to allocate money to pay the start-up costs for the new savings plan.