On November 5th, Social Finance Israel and the Rothschild Caesarea Foundation, in collaboration with the Haifa University and Tel Aviv-Jaffa Academic College, announced the launch of an 8 Million NIS Social Impact Bond program which will support reducing the drop-out rate and protraction of studies among computer science students.
Among first generation college students from the geographical and social periphery (i.e. low economic status and/or minority student groups) the drop-out rate in computer science is as high as 50%. Most Arab students in Israel are in this category and are at high risk of dropping out.
In all, the program will involve 600 students from both Haifa University and Tel Aviv-Jaffa Academic College, roughly half of whom are Arab and half Jewish.
Social Finance Israel CEO Yaron Neudorfer explained to the The Jerusalem Post on Wednesday that drop-out rates lose academic institutions a lot of revenue, including tuition and appropriations from the Planning and Budgeting Committee of Israel’s Council for Higher Education. Should the social impact initiative reduce the dropout rate, then the academic institutions will benefit from added revenue, out of which the money will be rebated to investors.
Over the last two years, the Rothschild Caesarea Foundation ran a pilot program at the Academic College Tel Aviv-Yafo. Findings showed 83% of students in the intervention program successfully completed their first academic year compared to only 16% in the control group.
The program will be managed by SFI and operated by the Aluma Association, which specializes in educational activity, mentoring and helping young adults to acquire life skills and integrate them in educational and employment circles.
Learn more about this bond on the Social Finance Israel website.
View this Task Force briefing paper on higher education to learn more about Arab citizens access to and retention in Israel’s universities and colleges.
Do you need support integrating these resources and issues into your philanthropic, communal, or Israel education work? Reach out for consultations, connections to experts, program support, training, or to plan your next event or mission. If you’ve used our resources, tell us about your experience!
Do you need support integrating these resources and issues into your philanthropic, communal, or Israel education work? Reach out for consultations, connections to experts, program support, training, or to plan your next event or mission. If you’ve used our resources, tell us about your experience!