Impact Bond: Chicago Child-Parent Center PFS Initiative
Stage of development: Implementation
Policy sector: Education
Intervention: Chicago Public Schools (CPS) and the City of Chicago have launched a Pay-for-Success (PFS) contract that will allow the City to provide high quality pre-K services to more than 2,600 children in high-need communities through the successful Child Parent Center (CPC) education program.The intervention is based on the Child-Parent Center (CPC) preschool model. The program provides high quality half and full day preschool education to three- and four-year olds as well as comprehensive family services. It seeks to identify and rectify low-severity learning and behavioral challenges allowing students to stay on track with their peers. The model achieves its outcomes by working with students and parents to help foster better learning at home and helping families address the myriad of challenges they face. CPC is equipped with a Parent Resource Teacher and School Community Representative who engages parents both inside and outside of the CPC.
Date outcomes contract signed: 2014-10
Start of service provision: 2014-12
Total investment commitment currency: USD
Total investment commitment: 16900000
Total investment commitment (USD): 16900000
Target population: Four-year old Chicago Public School children eligible for free or reduced lunch
Targeted number of service users or beneficiaries: 2618
Notes: The City of Chicago and the Board of Education of the City of Chicago (Chicago Public Schools) are both payors but are paying for different success outcomes. City of Chicago is paying for outcomes related to kindergarten readiness and third-grade literacy, while Chicago Public Schools is paying for an outcome related to avoided special education costs.