General Assembly Career Impact Bond

Social Finance is partnering with General Assembly (GA) and impact investors to launch one of the first-ever career impact bonds (CIB). The project serves 1,000 individuals across 10 U.S. cities, enabling them to develop in-demand coding skills, prepare for sustainable careers in the booming information technology (IT) space, and ultimately achieve improved economic mobility.

Project Goals

 

Increase career training access: Expand access to industry-recognized IT training and wraparound support services to people who have limited means or have come into contact with the criminal justice system.

Support measurable career advancement: Help students cultivate the technological skills needed to pursue and achieve measurable career progress within growing, in-demand IT occupations.

Catalyze wider economic mobility: Take a strong step toward catalyzing economic mobility at scale and recapturing the American Dream.

 

How It Works

Investors

Provide funding to expand General Assembly's Catalyst program and cover students' fees.

1

General Assembly

Provides training and wraparound support services to students.

2

Students

Repay their deferred program fees so long as they graduate, get good jobs, and earn salaries of $40,000 or more.

THE STUDENT PERSPECTIVE

 


Sandy

College was never an option for Sandy, who has been working low-wage jobs for close to 10 years. She wants to do more for herself and her daughter but a four-year degree is not viable because of the cost and time commitment involved. Technology training is appealing but a few credit dings make getting a loan impossible. Sandy is an ideal candidate for the student-friendly GA CIB.

Project Partners

Project Supporters