Preschool expansion via ‘social impact’ bonds

A group of investors is betting $17 million that getting more of Chicago’s children into quality early learning programs will generate bigger savings in the long term.

The investors will make a loan to the city so that 2,600 additional children can take part in half-day pre-school programs in the distirct’s much-lauded child-parent centers over the next four years, city officials announced Tuesday.