Agency Information Collection Activities; Submission to the Office of Management and Budget for Review and approval; Comment Request; Preschool Development Grants-Preschool Pay for Success Feasibility Pilot
Abstract: Pay For Success is an innovative contracting and financing model that tests and advances promising and proven interventions, while providing taxpayer (or other) dollars for successful outcomes for families, individuals, and communities.
Taxpayer dollars are going to be used to intervene into what and what outcomes are expected to be successful?
Through a PFS project, government (or another entity) enters into a contract with an investor to pay for services provided to specific people or communities once concrete, measurable outcomes have been achieved. Payments are made only if interventions achieve the outcomes agreed upon in advance. Where PFS financing is used, the government (or other entity) typically makes Outcomes Payments that cover the cost of services and also offer Investors a modest return, which typically amounts to a fraction of the short and long-term cost savings to the government (or other entity) from the successful outcomes.
This is a sound investment for “hedgehogs”
The first step in exploring implementing preschool services through PFS is a Feasibility Study.
More data collection, more profit collection.
A Feasibility Study establishes whether PFS is viable, for a specific intervention, in a specific jurisdiction and geographic area. It identifies potential Outcome Measures for the project and evaluates the feasibility of implementing or scaling a specific intervention for an identified Target Population. The study analyzes and quantifies the fiscal benefits for government and societal benefits that result if the Outcome Measures are achieved for the target population. It may also identify statutory and legal barriers, as well as potential partners for PFS. This information collection is an application package for a competition that seeks to award grants for Feasibility Studies to measure the viability of preschool pay for success projects.
Provide every child in America with developmentally appropriate, Arts based, experiential education that discovers, develops, and directs their gifts and talents and our children’s educational success will pay for itself.
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