I’m retired at 68 and want to go back to college — to enrich my golden years and get perks like the campus gym. Can I afford it, even with discounts?

Some view college as a ‘life hack’ that will lead them to higher lifetime earnings. But now, even some older Canadians are seeing college as a life hack for retirement — regardless if it comes at a time when the pursuit of higher learning is unlikely to contribute to career growth.

Going back to college can lead to a more fulfilling and purposeful retirement but it may also come with some financial perks, too.

This is exactly what Cynthia, a 68-year-old single retiree, decided when she recently enrolled in college. While it was Cynthia's second stint pursuing higher education — having earned a degree in chemical engineering immediately following high school — this time around it was about pursuing passion not profession. Despite a successful career in the pharmaceutical industry, Cynthia chose to delve into the world of art history — something she gained a passion for while strolling the galleries of Europe on various vacations over the years.

While Cynthia is a fictional person, she illustrates what many older Canadians realize: The golden years offer a great opportunity to dive into new passions and learn new skills.

Higher education options for older Canadians

While Cynthia is a fictional person, she illustrates what many older Canadians realize: The golden years offer a great opportunity to dive into new passions and learn new skills. Assuming Cynthia is like many older Canadians and she would soon realize that many universities offer free or discounted classes for those approaching their golden years. Some universities offer seniors the option to audit courses for free or at a low cost, the trade-off being that these courses don’t allow students the opportunity to complete coursework or exams, or to qualify for an official degree. Others offer educational programs or courses specifically designed for seniors.

There are also financial aid programs, scholarships, and grants that can help cover educational expenses for older adults. Finally, there are also a wide range of continuing education programs at many universities that will allow her to pursue her passion for art history.

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Enrollment often comes with perks

For Cynthia, her choice came down to a program that allows her to audit courses at a discount — an option she’s happy with, since she doesn’t want to be bogged down with coursework or exams. Also, as she’s taking the courses for the pure enjoyment of lifelong learning, she isn’t concerned with earning a credential.

One major perk that comes with her enrollment is her access to the university library, where she can spend hours satisfying her curiosity about a wealth of topics.

Cynthia has a friend in another province, Ben, who’s attempting to earn a degree in his golden years. Although this is costing him some money, he also gains some benefits from full-time student status, such as access to the campus gym and healthcare services. There are even some decent student discounts with his city’s transit system and at certain stores that offer student discount programs.

While seniors receive many of the same discounts as students, it’s not a complete overlap. For example, Ben used his student discount to buy a laptop and some software — a discount that wasn’t available to seniors. And while Ben and Cynthia may not be able to stack their discounts (for example, claiming both student and senior discounts on the same purchase), they also now have the option to choose which discount offers them a better deal for their specific needs.

Another perk? Beyond discounts, both Cynthia and Ben feel invigorated by the social interactions and intellectual stimulation college settings bring.

In fact, Statistics Canada reports that between 19% and 24% of Canadians over age 65 feel isolated and “wish they could participate in more social activities” (1). Cynthia and Ben are seeking out ways to buck this trend.

Cynthia finds that even in the slightly more passive role of auditing classes, there’s a sense of community that comes with once again sharing the university experience with those around her. She’s been shy about joining campus clubs, but Ben has joined several and finds it a great way to meet like-minded individuals, regardless of age.

Supports to help older Canadians continue learning

Ben, who is pursuing a more technical discipline, has also met some older adults who are looking to upgrade their skills because they want or need to return to work. He found it difficult at first to adapt to some of the new technologies he was expected to use, but he remained open to accepting help and reached out to any resources he could, such as peer tutors and training workshops.

Both Cynthia and Ben have also enlisted help from campus resources. With less energy than they had the first time around, as well as more outside commitments — Cynthia helps care for her grandchildren a few days a week — they’ve sought advice to help them plan out a schedule that works for them.

Ben was also worried that his chronic health condition would interfere with his education, but his college offers accommodations — such as extensions on assignments — that will ensure he can continue his studies (if he needs them).

It turns out, for some Canadians, going back to college can be a retirement life hack, helping them remain mentally and physically active, gaining the satisfaction of acquiring new skills and knowledge and expanding their social circles.

Their experience isn’t a one-size-fits-all solution — and post-secondary education can even end up as a net expense if Cynthia chooses a more traditional route. But with a variety of options available to prospective older students, there are now more options than ever before to enrich the lives of those looking to make the most of their golden years.

Article sources

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Statistics Canada (1)

— with files from Vawn Himmelsbach