BottleDrop returns can go toward Oregon college savings

Education

Minimum balance of $5 required and you're good to go

Michael Swadberg_187988

Michael Swadberg turns in bottles at a Bottledrop Oregon Redemption Center in Gresham, Ore., Friday, July 31, 2015. (AP Photo/Don Ryan)

PORTLAND, Ore. (KOIN) — In a unique plan, people who return their bottles and cans through BottleDrop can transfer funds from their account into an Oregon College Savings Plan.

Oregon State Treasurer Tobias Read made the announcement Tuesday and said it’s “a creative way to save for education and training after high school.”

People with a BottleDrop account can save for anyone they want — themselves, their kids, grandkids or as a gift to anyone with an Oregon College Saving Plan account. And, officials said, multiple Oregon College Saving Plan accounts can be linked to one BottleDrop account with more than a $5 balance.

There are more than 50 BottleDrop locations throughout Oregon.

Michael Parker, the Executive Director for the Oregon Savings Network, said all any resident of Oregon needs to take part are accounts with both BottleDrop account and the Oregon College Savings Plan.

Money saved in the Oregon College Saving Plan grows tax-free, officials said. For more information call 866.772.8464.

Copyright 2019 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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