Pay It Forward Funds

Social Finance is partnering with state governments and local workforce funders across the country to create self-sustaining pools of job training dollars called Pay It Forward Funds (PIFFs). These place-based funds support individual Career Impact Bonds (CIBs) that bring together wraparound support services and student-friendly income-share agreements to help individuals upskill with high-quality training providers and achieve economic mobility.

PIFFs create sustainable cycles of training that are fundamentally focused on outcomes. Students who experience positive employment outcomes repay the cost of their training, paying it forward into a common fund to support future students.

In fall 2020, New Jersey became the first state to announce the development of a PIFF. Partners in six other states are pursuing similar efforts, which blend public, philanthropic, and corporate funding to invest in sectors that are locally relevant, resilient, and in high-demand, including clean energy, IT, advanced manufacturing, and health care.

Contact Us

If you are interested in learning more about Pay It Forward Funds, contact Vice Presidents Andrew Chen or Jake Edwards.