In recognition of Earth Day, the Oregon College Savings Plan and BottleDrop reported that Oregonians have now saved $2 million for future higher education expenses through the convenient redemption of bottles and cans. Since the program’s launch in November 2019, nearly 7,000 Oregon families have used bottle collection funds to build college savings. This first-in-the-nation program gives Oregonians the opportunity to leverage their commitment to environmental stewardship to support pathways to higher education.
The program offers a convenient pathway for individuals and families across the state to transform their Oregon Bottle Bill container refunds into valuable savings for higher education. Participants can easily establish automatic transfers from their BottleDrop account directly into one or more Oregon College Savings Plan (OCSP) accounts. To date, this collaboration has facilitated the recycling of a remarkable 20 million beverage containers, directly contributing to the educational savings goals of thousands of Oregon families.
“It’s inspiring to see that nearly 7,000 Oregonians have built brighter futures through this unique partnership with BottleDrop,” said Oregon State Treasurer Elizabeth Steiner. “Reaching this $2 million milestone highlights the commitment of Oregon families to prioritize higher education savings. As we observe Earth Day, this success story shows that Oregon continues to find innovative ways to support thriving families and a healthy environment.”
“This innovative collaboration between BottleDrop and the Oregon College Savings Plan uniquely empowers Oregonians to turn their everyday recycling efforts into tangible investments in their children’s future. Nowhere else in the nation is this direct link between environmental responsibility and education savings so seamlessly integrated,” stated Jason Jordan, President for the Oregon Beverage Recycling Cooperative.
BottleDrop account holders enjoy the flexibility to save for their own education, the education of their children or grandchildren, or even contribute as a gift to any OCSP account. Opening a new OCSP account is a quick and easy process, typically taking around 15 minutes through OCSP’s website, or through a dedicated link accessible within their BottleDrop dashboard. A single BottleDrop account can be linked to multiple OCSP accounts, simplifying the savings process.
OCSP account holders share their experiences recycling and saving for higher education with BottleDrop:
“The BottleDrop program has been a perfect way for us to help our kids learn a little bit more about working hard and taking a big goal like going to college and breaking it up into small bite sized pieces,” says OCSP account holder, John Branam.
“Each month I have a certain amount that comes out of my BottleDrop account and just automatically invests into the Oregon College Savings Plan for me. I don’t have to think about it. I don’t have to do anything, except for rinse out my bottles and cans, put them in the bag and then drop them off,” says OCSP account holder, Jennifer Satalino.
“We love that we can use the BottleDrop program to automatically contribute to our Oregon College Savings Plan. All we need to do is put bottles into a green bag and take it to the grocery store. It makes it super easy to save for college,” says OCSP account holder, Eric Thomas.
Beyond saving for college, Oregonians can also contribute to a tax-advantaged Oregon ABLE Savings Plan account, designed to help individuals with disabilities and their families save. Similar to OCSP, contributions to an Oregon ABLE account help families qualify for the state’s refundable tax credit, worth up to $360.
Accumulating funds for both OCSP and Oregon ABLE accounts is convenient through BottleDrop’s extensive network of bag drop locations for Green Bags statewide. Account holders with a minimum balance of $5 in their BottleDrop account can easily initiate a one-time transfer or establish recurring monthly transfers to their designated OCSP or Oregon ABLE accounts.
“Oregon stands out as a leader in connecting environmental action with educational opportunity,” said Ryan Mann, Executive Director for the Oregon Treasury Savings Network. “Reaching $2 million in savings demonstrates the dedication of Oregonians to both their children’s futures and the well-being of our environment. This program offers a tangible way for everyone to participate in building a brighter future for themselves and for Oregon.”
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The Oregon College Savings Plan (OCSP) is a program of the Oregon State Treasury that helps families save for future education expenses. OCSP offers a range of investment options and tax benefits to help savers prepare for the costs of education and training after high school. Savings grow tax-free and can be used to pay for trade school, college, certification programs, and so much more. It’s easy to get started at OregonCollegeSavings.com.
The Oregon Treasury Savings Network, part of the Oregon State Treasury, was launched in 2001 to administer the Oregon College Savings Plan. It has since expanded to administer the Oregon ABLE Savings Plan and national ABLE for ALL Savings Plan, and the first state-run retirement program, OregonSaves.
Oregon Beverage Recycling Cooperative (OBRC) is the industry steward of Oregon’s nationally recognized beverage container redemption system and the operator of the BottleDrop network. On behalf of the beverage industry, OBRC helps Oregonians conveniently redeem and recycle more than 2 billion containers every year, dramatically reducing litter in Oregon’s special places and boosting the state’s recycling outcomes. To learn more, visit BottleDrop.com or OBRC.com.
