Pay for Success Arrives in Career & Technical Education

Signed into law this summer, the Strengthening Career and Technical Education for the 21st Century Act – also known as Perkins V – includes a number of provisions that promote innovation, modernization and the alignment of workforce skills with labor-market needs (see our full summary here). Notably, the legislation also includes the first-ever federal authorization of Career and Technical Education (CTE) funding for Pay for Success.

This change unlocks the potential to accelerate gains in economic mobility for millions of Americans. Every year, $1.1 billion in CTE funding flows from the