More retirees are living, studying, and working on US campuses

There is a growing trend at US universities: retirees living and learning alongside college students.

At Arizona State University’s Mirabella retirement community, several older Americans sign up for classes, assist in labs, mentor students, and attend campus events. Opened in 2020, it houses 373 residents aged 62 and older in a 20-story high-rise on ASU’s campus.

Educators say these university retirement communities—more than 86 across the US—have experienced rapid growth in the past 15 years. It particularly appeals to baby boomers, a well-educated, socially engaged generation seeking intellectually and socially engaging lifestyles.

It also generates financial incentives for universities, but comes at a steep price for senior citizens.

At Mirabella, entry fees start at $490,600, with monthly costs beginning around $5,500. It is comparable to luxury senior living.

As for the students, many benefit from the senior citizens’ experiences. Several retirees volunteer as teaching assistants, tutors, or commit to listening to students seeking conversation or emotional support.

Despite initial worries that retirees might dampen ASU’s party reputation, Mirabella has thrived.