This toolkit from the US Department of Education provides general information about Pay for Success (PFS) projects, which are projects that support evidence-based approaches by leveraging private investment to address societal problems and challenges while typically using government funds only when a project meets measurable, positive outcomes. This toolkit is an introductory guide for state and local governments and other stakeholders interested in exploring the possibility of a PFS project for education or related societal issues. It provides information to support stakeholders in determining if PFS is a viable financing strategy for them, lays out steps usually involved in conducting a feasibility study, and highlights critical questions and important safeguards to consider in using PFS. The Appendix includes tools that may be useful for PFS projects, including definitions of terms used throughout the document.