University-Based Retirement Communities: A New Chapter in Lifelong Learning

The traditional image of retirement often involves leisurely pursuits like hobbies, quality time with grandchildren, and extended vacations. However, a growing number of seniors are embracing this new chapter as an opportunity for continued learning and intellectual exploration. Unlike younger students who are focused on career prospects, older learners are often driven by a genuine love of learning. University-based retirement communities (URCs) are emerging as a popular option for seniors who want to stay active, engaged, and connected to the world around them.

The Rise of University Retirement Communities

URCs represent a unique approach to senior living, blending the benefits of traditional retirement communities with the intellectual stimulation of a university environment. These communities are affiliated with colleges or universities, some of which are also lifelong learning institutes, and offer seniors the opportunity to live on or near campus while receiving the care they need. A university retirement community is a unique type of senior living for older adults who want to continue learning in a classroom environment. While the concept dates back to the mid-1980s, URCs have gained renewed momentum in recent years, reflecting the increasing desire of baby boomers to remain intellectually active during retirement. Figures published in 2022 by the Educational Data Initiative show 0.10% of adults aged 65+ are enrolled in postsecondary education.

What to Expect from Housing in URCs

Housing options in URCs typically differ from traditional dorm life. Expect housing at a URC to be different from dorm life. Most URCs offer a range of housing options, from apartments to cottages, villas, townhomes, and single-family homes. You’ll typically find they offer one-bedroom apartments at least, although two- and even three-bedroom apartments exist in some, as well as freestanding villas. These living spaces are designed with the needs of seniors in mind and often include kitchens with utilities, bathrooms with walk-in showers, and 24/7 emergency response systems.

Levels of Care Offered in URCs

Care varies between URCs, so it could be independent living and/or assisted living, as well as skilled nursing. The level of care offered in URCs can vary. Some communities concentrate on one or two levels of care. Others, known as continuing care retirement communities (CCRCs), cater to seniors at all stages of health. Most university retirement communities are CCRCs. In a CCRC a senior can transition to housing based on their current level of care while staying in the community. For example, a continuing care retirement community may include an independent living facility along with an assisted living unit and a nursing home. This allows the senior citizens to remain with the same medical providers and researchers during their senior years. They provide a continuum of care, from the minimum level of support for healthier seniors to tailored health care for those needing daily assistance.

Here's a breakdown of the different levels of care commonly found in URCs:

Independent Living: A nonmedical level of care that can be described as aiding rather than caring for residents who are relatively healthy and fit. Typically, the facility handles housekeeping and transportation services. Other services, such as grocery shopping, pet care and moving-in assistance, are likely offered for a fee. For universities that offer independent living for seniors, the costs include leasing a home or renting an apartment, sans an entry fee or monthly service charge.
Assisted Living: Assisted living is a nonmedical type of care for seniors who need help with activities of daily living, such as bathing and dressing. Residents get individual care plans, and the facility handles other aspects of daily life, including cooking meals and housekeeping. Residents often have on-site amenities, such as a beauty salon/barbershop, library and landscaped grounds with walking paths.
Memory Care: This is very similar to assisted living. Safety and security are high priorities, so you can expect keypad-entry doors and secure courtyards. Staff also handle additional aspects of care, such as incontinence management and medication monitoring. It’s common to find therapists on-site delivering occupational, speech and physical therapies.
Skilled Nursing: Residents receive care around the clock from medical professionals, including registered nurses and physicians. They get customized care plans to address their short- or long-term health care needs.

URCs vs. Traditional Senior Living Communities

Although there are similarities between traditional senior living communities and URCs, there are notable differences. Living spaces can be on or near the campus. Individual assisted living facilities may book visiting speakers. Some communities have the same (or similar) amenities as independent living and assisted living communities. Others have agreements with the university to use campus facilities, such as the gym, library, theater and sports facilities. Amenities and services vary depending on the specific community.

Benefits of Choosing a URC

If you decide to retire to a URC, you may find it offers benefits traditional senior living communities can’t deliver. Life at a URC has many benefits. Mastering new skills builds confidence and resilience, while shared classroom projects foster meaningful engagement and combat loneliness, a significant risk for adults. URC residents enjoy a lively, walkable campus with varied activities, including sporting events, theater, and concerts, allowing them to connect with people of all ages and share their perspectives and experiences. Adults can also benefit from student assistance with physical tasks, errands, or technology. Each URC offers unique experiences, integrating adults with university life through thoughtful programs to bring generations together. This ranges from Mirabella at Arizona State University hiring a Director of Lifelong University Engagement to The Woodlands at Furman offering an Adopt-a-Grandparent/Adopt-a-Grandchild program. Many URCs also feature community gardens tended by members of all ages, fostering a sense of community and collaboration.

Some of the key advantages of URCs include:

Lifelong Learning Opportunities: The main focus of a university retirement community is to provide seniors with the ability to continue learning. As such, these communities are hosted by universities that provide seniors with various outlets for education including access to campus libraries. Residents can enroll in and audit college courses, participate in classes designed specifically for older learners, and attend lectures and presentations. At some URCs, adults can participate in medical research or practicums and receive conventional, alternative, or experimental treatments, while students receive real-world experience in nursing, PT, medicine or research.
Access to University Amenities: Some communities have agreements with the university to use campus facilities, such as the gym, library, theater and sports facilities. Residents often have access to university libraries, gyms, museums, and cultural events.
Intergenerational Engagement: URCs provide opportunities for seniors to connect with students and faculty, fostering a sense of community and shared learning. Adults can also benefit from student assistance with physical tasks, errands, or technology. Each URC offers unique experiences, integrating adults with university life through thoughtful programs to bring generations together. This ranges from Mirabella at Arizona State University hiring a Director of Lifelong University Engagement to The Woodlands at Furman offering an Adopt-a-Grandparent/Adopt-a-Grandchild program.
Wellness Programs and Activities: University retirement communities offer seniors a variety of educational and recreational opportunities. These retirement communities provide on-site classes, wellness programs, and art activities to help seniors stay mentally active.
Potential Research Opportunities: Some of the universities also offer onsite medical research opportunities for seniors who want to explore alternative treatments for chronic conditions or provide access to hands-on medical studies for students.
Location: Most URCs are located directly on the college campus to facilitate deep integration, while others are nearby.

Cost Considerations

The diversity of URCs across the country and the facility-specific offerings of each make it impossible to give a definitive answer to how much they cost. One thing to note is that these communities usually have an up-front entry fee, which can range from about $100,000 on the low end to more than $5 million in upscale living communities like Vi at Palo Alto, a community near Stanford University. As for the actual accommodations, housing varies to include apartments, cottages, villas, and single-family homes. There are two areas to look at when considering the cost of a CCRC university retirement community. First, there is the one-time entry fee, which varies greatly. For example, at The Forest at Duke at Duke University the entry fee begins at $88,000, yet at Lasell Village at Lasell College, the maximum entry fee is $900,000. The Longhorn Village at the University of Texas in Austin charges an entry fee of up to $1.18 million. Entry fees vary based on geographical locations, services offered, amenities, the degree of luxury, and local demand for senior housing. In addition, the senior is responsible for paying a monthly service fee. For universities that offer independent living for seniors, the costs include leasing a home or renting an apartment, sans an entry fee or monthly service charge.

According to UnionBanc Investment Services, entrance fees range from $100,000 to $1 million, with the average fee being $300,000. You may find these fees initially shocking, but it’s worth remembering they fund the facility’s operating costs, and they’re a prepayment for your care. You’ll need to pay a monthly fee in addition to the entrance fee. This covers the standard services, such as accommodation and meals, and is subject to increases over time. You might also incur additional costs for services not included in the monthly fee, such as laundry, as well as utilities, including telephone and internet. The previous figures are specific, so they don’t reflect the wide variation in fees across the country. Since the most common type of URC is broadly in line with a CCRC, which provides a continuum of care from independent living to skilled nursing, it’s reasonable to assume the costs will be similar. These fees are only a guide because many factors can affect them, including the facility’s location, the care type it provides and the care provider’s pricing policies. For example, the median monthly fee for assisted living in Ithaca, New York, is $8,075, while the equivalent in San Antonio, Texas, is $3,413. For a nursing home semiprivate room in both locations, the median fees are $9,885 for the former and $5,232 for the latter.

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Many UBRCs offer a partial refund to you or your heirs - some up to 90% - if you don’t end up utilizing that high level of care, so it’s something to consider. In addition to the entry fee, you will pay a monthly service fee for amenities like housekeeping, yard and home maintenance, and campus access. Some universities include the cost of attending classes in the monthly fees, rather than paying separately for course enrollment.

Paying for a URC

As is its policy with standard senior living communities, Medicare won’t pay for long-term custodial care in a URC community. It can pay 100% of costs for the first 20 days in a Medicare-certified skilled nursing facility and up to $200 for the following 80 days. However, this presupposes your URC of choice is Medicare-certified and your stay is only short-term, which is unlikely. Medicaid also won’t pay URC fees because the typical costs of university retirement communities put them out of reach of seniors whose incomes qualify them for financial assistance. Consequently, payment options are limited.

Here are some potential payment options for URCs:

Reverse Mortgage: A reverse mortgage uses your home as loan security. You receive a monthly payment from the loan and can use it to cover your URC costs.
Family Support: Multiple family members pool their resources and make URC care more affordable for their loved ones. This is a common practice among family members concerned about loved ones who live alone, with only sporadic visits from friends and care providers.
Bridge Loan: If you have one or more sources of funding, but timing is the issue, a bridge loan may help.
Long-Term Care Insurance: Long-term care insurance exists specifically to cover care costs. Factors determining your premiums include your age when you start the policy and the amount you want it to pay annually.
Annuity: With an annuity, you make a lump sum payment or multiple payments over a predetermined period of time to the insurance provider.

Examples of University Retirement Communities

Several of the best universities offer these communities. Here are a few examples of URCs across the United States:

Lasell Village (Lasell College, Newton, Massachusetts): For seniors who want to focus more on their learning opportunities, Lasell Village of Lasell College in Newton, Massachusetts may be more their speed. At this independent living facility for seniors, all residents are required to spend at least 450 hours learning or being active. This includes classroom instruction and recreational activity. This commitment to learning is backed by the university retirement community having its own dean, library, and gym just for the residents.
Oak Hammock (University of Florida, Gainesville, Florida): Seniors who want to advance their learning without paying a dime can do so at Oak Hammock. This is a CCRC in Gainesville, Florida that is sponsored by the University of Florida. As a resident of Oak Hammock, senior citizens have a couple of options for continuing their education. They can audit courses at the university, which means not paying for college classes.
The Forest at Duke (Duke University): At The Forest at Duke at Duke University the entry fee begins at $88,000.
Longhorn Village (University of Texas at Austin): The Longhorn Village at the University of Texas in Austin charges an entry fee of up to $1.18 million.
The Knolls of Oxford (Miami University, Ohio): The Knolls of Oxford, affiliated with Miami University in Ohio, houses the Scripps Gerontology Center, where adults can participate in research studies related to aging.
Wardell Retirement Community (University of New England, Maine): In Maine, the Wardell Retirement Community allows adults to volunteer in the Geriatrics Practicum, which offers experiential learning opportunities to medical students at the University of New England.
Goucher College and Edenwald Senior Living (Maryland): The first university retirement community in the state of Maryland is being developed through a partnership between Goucher College and Edenwald Senior Living. Goucher is one of only two colleges in America that require students to study abroad, and it will leverage its expertise in global education to offer intensive, intergenerational study courses abroad for Edenwald residents and students.

Key Considerations When Choosing a URC

When considering a URC, it's important to evaluate several factors:

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Care Considerations: Does the UBRC provide the level of health care to meet your current needs?
Safety and Security: Do you feel comfortable living on or near the campus of the school?
Neighborhood: Are you comfortable living in the neighborhood where the university-based retirement community is located?
Research: Are you comfortable participating in research studies with students and faculty at the university?
Bring the below checklist with you as you tour URCs to ensure you choose a community that has everything you need.

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