Thursday, September 12, 2019

Living On Campus-Not Just College Students But Retired Individuals

The New York Times ran an article about, At Colleges, What's Old is New: Retirees Living on Campus.

This story focuses on "a growing number of colleges sponsoring retirement communities on campus or thinking about it." The schools promote the educational impact of this, but of course there can be a monetary benefit to the college.

The schools say their motive is more educational and social — encouraging intergenerational mixing — than financial. But the communities promise a new revenue stream for institutions that are coping with reduced state operating support and declining college enrollment in many parts of the country. They are bringing a new generation (or old generation) to c ampus to fill classes, eat in dining halls, attend student performances and become mentors.

Not everyone supports the concept, with concerns about older people complaining about noise from parties, and the recognition that their presence in the classroom can change the dynamics, without the same stakes, since only the younger people take the classes for grades. But that's not guaranteed to happen and in fact, the opposite may occur. One couple quoted for the article "say the whole reason they are moving to ...  College and not to Miami is that they like to stay up late and party. [They] believe[] that the other residents will be the same — not your parents’ grandparents. “They’re forward thinkers, not the ones to go down to Florida and order the early bird special...."

The article features several colleges that are implementing the concept.  The cost may be too steep for some.  There are different approaches being adopted. It all is very interesting.

Check it out!

https://lawprofessors.typepad.com/elder_law/2019/09/living-on-campus-not-just-college-students-but-retired-individuals.html

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