Many seniors and elderly are choosing to live on or near a college campus. This development is win-win for the seniors and the university and its community.
Benefits to seniors
Staying actively engaged is the secret to successful aging. College communities afford seniors and the elderly a variety of rich cultural and intellectual activities.
Among the benefits they gain include:
Seniors also receive discounts on the cost of tuition. At Duke University's Institute for Learning in Retirement program, after paying a $25 membership fee, seniors pay reduced fees for one to five courses. This provides a significant savings when compared to the regular tuition cost.
Benefits to the college or university
Notre Dame has already received $1 million from just one resident of its retirement community. At a retirement village being built at Georgia Tech, the developer is planning on selling 204 home lots at $240,000 each, a significant increase in value for the university. Other benefits can include:
Benefits to society
It’s speculated that by encouraging this kind of arrangement, society can benefit by having a group of healthy, educated and productive seniors contributing to the enrichment of that same society. Furthermore, it can go a long way in reducing the antipathy that sometimes occurs between the young and old. Both generations will benefit by learning more about each other's experiences.
When you are discussion housing options with your parents, encourage them to explore taking advantage of the lifelong learning opportunities and join a senior community near – or even on – a college or university campus. It could be an enriching experience for everyone.