On Wednesday, BottleDrop and the Oregon College Savings Plan announced that the initiative had collected $1 million via the easy redemption of bottles and cans, which will be used to fund college scholarships. This success coincides with Earth Month and comes slightly over three years after the partnership’s debut in November 2019.
The Oregon Bottle Bill is an innovative initiative that helps families throughout the state save money for their children’s education with the funds they redeem their bottles and cans. The BottleDrop platform allows users to set up recurring deposits to their Oregon College Savings Plan (OCSP) accounts.
More than 5,000 residents of Oregon have benefited from the cooperation so far, with money from the redemption and recycling of 10 million beverage containers going into their OCSP accounts to be used for future higher education costs.
“We are excited to see a bottle and can redemptions continuing to turn into big returns for Oregon College Savings Plan participants,” said Oregon State Treasurer Tobias Read.
“Saving a combined $1 million toward education and training after high school is a significant accomplishment and one that comes with an important bonus conservation benefit. While this is still the beginning of our collaboration, and it is gratifying to see Oregonians’ early enthusiasm for this creative savings opportunity with our partner, BottleDrop—Let’s keep saving!”
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“This is the only place in the world where people can so directly connect recycling and environmental stewardship with education savings,” said Jules Bailey, President and Chief Executive Officer for the Oregon Beverage Recycling Cooperative, which operates the BottleDrop network.
“The power of Oregon’s Bottle Bill, coupled with the creativity of the State Treasurer’s Office, made way for a truly unique partnership that is helping families across Oregon save for education.”
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