Intergenerational Housing for Students and the Elderly a Win-Win, Says Ameritech Financial

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Jun 22, 2018, 08:00 ET

ROHNERT PARK, Calif., June 22, 2018 /PRNewswire/ -- College students hanging with 80-somethings is beneficial for all, according to a recent report by Generations United. In a wave of intergenerational house sharing, students are living with older Americans, either at a nursing or private home. The students live rent-free in exchange for services like grocery shopping or shoveling snow, or they can rent at below market rates with no formal exchange of services. The report finds that the elderly benefit greatly by the interaction, which offsets the damaging health risks of isolation, while the student gains empathy, an improved ability to regulate behavior, and inexpensive living arrangements, which can offset the high costs of attending college. Ameritech Financial, a document preparation service company that helps borrowers apply for federal loan assistance programs, is supportive of this development since it not only promotes the health and well-being of all participants, but it also lowers the cost of going to college.

"These shared arrangements confront ageism, provide a barrier against isolation and create long-lasting and life-changing intergenerational bonds," said Tom Knickerbocker, Executive Vice President of Ameritech Financial, "adding purpose and meaning to the lives of young and old."

With nearly 40 percent of grandparents having a grandchild living more than 500 miles away, these arrangements create new ways to foster intergenerational interaction that reduces loneliness for older adults and increases levels of engagement for dementia patients. Among the elderly who participated in such programs, 97 percent indicated it allowed them to feel happy, interested, loved, younger, and needed.

In a program called Intergenerational Housing Solutions in Housing that is being rolled out next fall, graduate students in social work are matched with older Americans who have a spare room. These students are excellent candidates to live with the elderly since they have high levels of empathy, altruism, and maturity. And though not every student would be willing to forego living with their peers, for those who do, the experience can be powerful since growing up and growing old in connection with each other is more compatible with how all the generations before us have always lived, notes the study.

"When generations are more closely connected rather than separated, resources are more wisely utilized," said Knickerbocker. "And instead of student debt, student wealth is created in the form of increased understanding and appreciation. But even these 'wealthy' students may have to take out loans which need to be repaid. We assist borrowers by helping them apply for federal programs such as income-driven repayment plans to possibly lower payments so that even more wealth, both in the bank account and the heart, can be created."

About Ameritech Financial

Ameritech Financial is a private company located in Rohnert Park, California. Ameritech Financial has already helped thousands of consumers with financial analysis and student loan document preparation to apply for federal student loan repayment programs offered through the Department of Education.

Each Ameritech Financial telephone representative has received the Certified Student Loan Professional certification through the International Association of Professional Debt Arbitrators (IAPDA).

Ameritech Financial prides itself on its exceptional Customer Service.

Ameritech Financial Newsroom

Contact

To learn more about Ameritech Financial, please contact:

Ameritech Financial

5789 State Farm Drive #265

Rohnert Park, CA 94928

1-800-792-8621

[email protected]

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Intergenerational Housing Good for Both Parties
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