The first Pay for Success initiative (aka Social Impact Bond) focused on early childhood education in the U.S. was launched in 2013 in Salt Lake County, Utah. The initiative involves a $7 million investment in private capital to fund the expansion of the early education for at-risk children. The goal is to increase school readiness and academic performance among 3- and 4-year-olds and reduce the number of children who require special education and remedial services.
Updates since the interview:
- NY Times, 10/7/15, For Goldman, Success in Social Impact Bond That Aids Schoolchildren
- NY Times, 11/3/15, Success Metrics Questioned in School Program Funded by Goldman
- United Way of Salt Lake, 11/5/15, When Solid Data Leads to Action – Kids’ Lives Improve (response to NY Times)