College Students: Would You Live With a Senior Citizen to Save $7,000?

November 25, 2016
by Lisa Rowan
Writer and Producer
College housing

Would you give up part of your college experience if doing so offered major savings?

Room and board at New York University usually costs about $14,000. But a new program aims to cut that bill in half for some students.

The ideal candidate: Mature. Open to new experiences. Willing to live with the elderly.

Yep.

Want to Live with a Senior… Citizen?

NYU is launching a pilot program to house 10 juniors, seniors and graduate students in the spare bedrooms of senior citizens who live near campus.

Senior citizens will receive income from renting out private bedrooms, while students will get a $7,000 reduction on their housing bills.

The New York Post notes a similar program has been successful in Chicago, where participating students told the Post their senior roommates were less stressful to live with than previous college-age roommates.

The discount on room and board can mean more time to focus on schoolwork instead of picking up a dozen side hustles. The Chicago students get their housing for free in exchange for 20 hours per week assisting the senior citizens in their building.

Is This Housing Deal Right for You?

It’s an amazing deal, but we can’t assume that living with a senior citizen won’t come with its own stressors.

An older roommate may not mind if you stay up all night watching Netflix, but they may frown on you stumbling in and slamming kitchen cabinets at 2 a.m.

They may be down to order Domino’s once a week, but not every single night.

You might not even need quarters for laundry! But please do your laundry often enough that you won’t need to hog the machines for two days straight once you’re out of clean underwear.

Let’s be real here. Get matched with the right senior citizen, and you’ll probably have a heck of a lot of fun while you’re studying.

Your Turn: Would you live with a senior citizen to save money on college housing?

Lisa Rowan is a writer and producer at the Penny Hoarder.

by Lisa Rowan
Contributor for The Penny Hoarder

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