We spend trillions of dollars on public and private workforce training each year in the U.S. Despite all our spending, we’re not making enough progress. Workers are struggling to find education and employment opportunities that lead to in-demand jobs, and businesses don’t have the skilled talent they require. We need effective, sustainable innovations to finance training that will help people land good jobs and find economic mobility.
Pay It Forward Funds are place-based workforce funds that more sustainably invest in worker upskilling. They amplify the impact of public and philanthropic dollars by recycling funds to ‘pay it forward’ for future learners. Our Career Impact Bond financing equips learners to land good-paying jobs and businesses to invest in and retain diverse, skilled talent.
Nursing student at Hudson County Community College, a training provider in the New Jersey Pay It Forward Program. Photo courtesy of Charles Sykes/AP Images for Johnson & Johnson.
Governor Murphy visits Hudson County Community College to announce the Pay It Forward Program with Social Finance CEO Tracy Palandjian, HESAA Executive Director David Socolow, Hudson County Executive Tom DeGise, and Hudson County Community College Associate Vice President of Academic Affairs Dr. Darryl Jones(Edwin J. Torres/NJ Governor’s Office).
New Jersey Pay It Forward Program
$24M
Revolving workforce fund to upskill New Jersey residents and fill critical job openings
Colorado Pay It Forward Fund
$8M+
Revolving workforce fund to upskill Colorado residents and fill critical job openings
Massachusetts Climate Careers Fund
10M+
Targeted fund size to fill climate workforce gaps and increase access to economic mobility for workers
With ‘Pay It Forward,’ New Jersey isn't just entering this national discussion [on the impact of student loans on American families]—we're bringing a real, live, tangible example of what the future can look like.
Governor Phil Murphy
State of New Jersey
In Massachusetts, we have a storied history and culture of mission-driven innovation. We are America’s state of firsts – and today we’re proud to add another first to that list with the launch of the Climate Careers Fund.
![Hudson County Community College students standing to receive their diplomas.](https://socialfinance.org/wp-content/uploads/2022/10/52292744098_f95bc0514a_o-scaled-e1667932685649-500x500.jpg")
![A student celebrates graduation from CrossPurpose, a training provider in the Colorado Pay It Forward Fund.](https://socialfinance.org/wp-content/uploads/2023/06/333565795_1738281673257527_5923421843105689519_n-e1685992320347-500x500.jpeg")
![A worker in protective gear and a safety helmet inspects a solar panel closely.](https://socialfinance.org/wp-content/uploads/2024/07/1b1d768e-0524-4214-ab3c-c04ace5618dc-500x337.png")
