J.B. Pritzker, Goldman Sachs, and Northern Trust Invest $16.9 Million In Chicago Pre-K Through Pay for Success

On October 7, 2014, the Mayor of Chicago announced that a group of investors (including J.B. Pritzker, Goldman Sachs, and the Northern Trust) would provide $16.9 million dollars to scale-up Pre-K for low-income children in Chicago.  The investment would be repaid by the city through a Pay for Success contract.

From the Child-Parent Center Pay-for-Success Initiative/SIB Fact-Sheet:

Chicago Public Schools (CPS) and the City of Chicago are partnering with leading experts to launch an innovative 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 over the next four years through the successful Child Parent Center (CPC) education program.

The CPC model has a proven track record of improving educational outcomes and lifelong trajectories for disadvantaged children in pre-school and beyond. Students who participate in the CPC program are better prepared for Kindergarten, perform better on standardized tests, are less likely to need special education services, are more likely to graduate from high school, and be successful in life.

The model achieves these outcomes by working not only with students, but also with parents to help foster better learning at home and helping families address the myriad of challenges they face. Every CPC comes equipped with a dedicated Parent Resource Teacher and School Community Representative, who engage parents both inside and outside of the CPC.

We are very exciting to see this development for young children in Chicago.

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