There's a New Type of Senior on College Campuses

U.S. seniors are increasingly returning to college by joining university-based retirement communities (UBRCs), reports the Wall Street Journal . It costs a lot to enroll, but seniors enjoy many benefits, especially interacting with students, which some residents say helps keep them feeling youthful. To join a UBRC, applicants usually must have at least one spouse who meets the minimum age requirement, which is often somewhere between 55 and 65. Living arrangements are typically one-, two-, or three-bedroom apartments and often feature a continuum of care, in which seniors who begin living independently can change to assisted living or skilled nursing care if necessary. Much of the high admission costs is meant to cover future use of on-premises assisted living or skilled nursing care, and frequently as much as 90 percent can be refunded if a resident moves out or dies without using the funds for medical care. Georgetown University's Andrew Carle cautions many so-called UBRCs do not meet the ideal criteria, which should include being located within about a mile of the main campus; a defined program for interaction with students; a continuum of care; a written relationship between the university and the community; and inclusion of alumni, retired faculty, and staff.