Retirees, or those close to retirement are constantly looking for ways to making their later years in life purposeful. So, it’s hardly surprising that an increasing number of colleges in the US are hoping older Americans will choose to settle down in sponsored housing on or near their campuses.

More institutions in the US are looking at ways of encouraging intergenerational partnerships with colleges and universities, where retirement communities mix seamlessly with campus life.

As we reported here in the Donaldson Sisters, recently, an experiment in the Netherlands has seen students live rent free in an aged care facility in return for companionship.

Older residents in the US at some of the university-based retirement communities can sit classes for free, access campus amenities alongside the normal assisted-living services found in a traditional retirement community.

For the ageing population, the university campus often provides proximity to state of the art medical and research facilities. For the student population, the retirement element provides employment opportunities and the chance to find new mentors in their field of interest.

The financial benefits are also interesting.

Andrew Pentis of Student Loan Hero told Fox Business, “Having a retirement community on or near campus also affects the bottom line, after all, schools are businesses at the end of the day and seniors represent a new base of customers. They contribute to the micro economy on campus, spending money, paying taxes and increasing the college’s enrolment figures.”