- 2,121
Super Seniors' Are Flocking to Retirement Communities on College Campuses
University-based retirement communities, or UBRCs, are places where retirees live on campus and participate in all of the regular aspects of college life just like students do — taking classes, meeting friends for cafeteria lunches, going to football games — and they’re growing in popularity, the Journal says. That’s because now more than ever, current and soon-to-be retirees are looking for creative ways to live vibrant and engaged lives in retirement. UBRCs can offer that experience all in one place.
While the concept of a community filled with life-long learners of all ages and backgrounds sounds charming, there’s one major barrier to entry: cost.
UBRCs don’t come cheap: entrance fees start at $200,000 and can go as high as $1 million, with extra fees for couples, and monthly charges can range anywhere from $1,800 to $10,000, the Journal reports. Much of that money is earmarked for future use of the care facilities–if needed, residents can progress to assisted living or skilled nursing care on the premises.
But there are usually refund policies if a resident dies or moves out without using this additional health care: they can often get back up to 90% of their entrance fee in that case.
University-based retirement communities, or UBRCs, are places where retirees live on campus and participate in all of the regular aspects of college life just like students do — taking classes, meeting friends for cafeteria lunches, going to football games — and they’re growing in popularity, the Journal says. That’s because now more than ever, current and soon-to-be retirees are looking for creative ways to live vibrant and engaged lives in retirement. UBRCs can offer that experience all in one place.
While the concept of a community filled with life-long learners of all ages and backgrounds sounds charming, there’s one major barrier to entry: cost.
UBRCs don’t come cheap: entrance fees start at $200,000 and can go as high as $1 million, with extra fees for couples, and monthly charges can range anywhere from $1,800 to $10,000, the Journal reports. Much of that money is earmarked for future use of the care facilities–if needed, residents can progress to assisted living or skilled nursing care on the premises.
But there are usually refund policies if a resident dies or moves out without using this additional health care: they can often get back up to 90% of their entrance fee in that case.
