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Helping people who use homeless services isn't just about balancing budgets or putting roofs over heads. It’s about advancing systems that work.
Urban and OMB director Shaun Donovan both announced programs on Wednesday to help the innovative financing mechanism grow further and faster.
The Urban Institute on October 14 will welcome OMB director Shaun Donovan to discuss the financing mechanism and the quest for evidence-based policy.
In a new study, participants offered financial coaching had an average debt reduction of $10,644 more than those who were not offered services.
Coaching helps people across the income spectrum set goals and plan concrete steps to meet intermediate- and long-term financial goals.
Pay for success financing shifts risk from the government agency to funders, removing the disincentives to invest in a preventive program.
Pay for Success investors’ principal is returned with a profit only if rigorous evaluation finds that predetermined performance goals are met.
Urban Institute is receiving $8.4 million in funding from the Laura & John Arnold Foundation to help launch the Pay for Success initiative.

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