Impact Bond: Side by side
Stage of development: Implementation
Policy sector: Education
Social challenge: A small but significant proportion of school age students in Victoria struggle to connect with and engage at school. On average, educational outcomes for students from socio-economically disadvantaged backgrounds are significantly lower than students from more advantaged backgrounds. Students from disadvantaged backgrounds tend to be more vulnerable on standard Australian Early Childhood Development scores and have lower literacy, numeracy and comprehension levels, and lower school attendance and retention rates. School attendance data in Victorian schools indicates that Aboriginal children are absent from school at a much higher rate than the rest of the student population.
Intervention: The Side by Side SIB will fund the working capital of the Side by Side Program, an intensive 12-month program designed to improve the engagement and learning outcomes of students in Years 1 to 4. The Program combines student and family therapeutic support in the home, educational case management at school and professional learning and mentoring for teachers delivered through a whole-of-school transformation process.
Date outcomes contract signed: 2020-10
Date contracts between all parties signed: 2020-12
Start of service provision: 2021-01
Anticipated end of service provision: 2025-12
Anticipated completion date: 2027-03
Total investment commitment currency: USD
Total investment commitment: 5000000
Total investment commitment (USD): 5000000
Maximum potential outcome payment: 14900000 USD
Maximum potential outcome payment (USD): 14900000
Configuration of the contracting parties: Direct structure
Target population: Vulnerable primary school students with priorty given to Aboriginal and Torres Strait Islander students
Targeted number of service users or beneficiaries: 300
Targeted unit type: Individual