Creating the pay it forward program.

HB 2148 creates Washington's "pay it forward" program to help graduate students cover tuition and fees at public universities. The program provides funding for up to four years of study (or 125% of a program's length), minus any existing state financial aid, for students at University of Washington, Washington State University, regional universities (Western, Central, Eastern), or The Evergreen State College. Participants repay the program after graduation by contributing a percentage of their income (3.5% for regional universities/state college, 5% for state universities) for up to 15 years, with payments tied to the credits taken during their studies. Funding comes from state appropriations, participant contributions, and private donations, held in a dedicated trust fund managed by the Student Achievement Council.