SALEM, Ore., Nov. 10, 2020 /PRNewswire/ — One year after the launch of the partnership between Oregon College Savings Plan and Oregon BottleDrop, over 1,280 Oregonians are now saving for higher education through the convenient redemption of bottles and cans. Launched in November 2019, the program enables recyclers from across the state to transfer funds from BottleDrop to an Oregon College Savings Plan account.
“The savings are really starting to add up,” said State Treasurer Tobias Read. “We’re delighted to see an enthusiastic response from Oregonians to our partnership with BottleDrop. It shows how easy it can be to start saving for your future. Oregonians are realizing increased financial opportunities for kids, and delivering an important bonus conservation benefit of over one million beverages recycled.”
BottleDrop account holders can save for kids, grandkids, or as a gift to anyone with an Oregon College Savings Plan account. Setting up a new account takes about 15 minutes. Participants can access the sign-up page through their BottleDrop account and then immediately begin saving. Multiple college accounts can be connected to a single BottleDrop account.
“The anniversary of the BottleDrop partnership aligns with National Recycling Day, a terrific opportunity to take part in this program by returning containers and teaching kids about conservation and saving for the future,” said Jules Bailey, Chief Stewardship Officer and Director of External Relations for the Oregon Beverage Recycling Cooperative. “It is gratifying to see participation in this program grow each month, helping families turn their small deposits into big returns for their future.”
Next up for the BottleDrop program—Oregonians can now contribute to a tax-friendly Oregon ABLE Savings Plan account to help people with disabilities and their families save money. Linking an ABLE account account to BottleDrop is the same process as connecting a college account.
“It’s not just for college anymore. We’re pleased to be able to offer the same great BottleDrop program to Oregon ABLE participants,” said Michael Parker, Executive Director for the Oregon Treasury Savings Network. “We aim to bolster financial security for Oregonians who experience disabilities by increasing accessibility to low-cost, low-barrier financial tools.”
The Oregon College Savings Plan is a state-sponsored higher education savings program that comes with special tax advantages and can be opened by just about anyone.
Contact:
Kasey Krifka
kasey.krifka@ost.state.or.us
503-431-7976
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