As baby-boomers get set to retire, more and more services are appearing to meet the growing list of senior needs, including College Based Retirement Communities.

Is moving near to a college campus a better alternative than taking a sail on a continuing cruise around the world? Well, no, those aren’t the only possibilities, but they are two of the more attractive options floating around at the moment.

Consider the merits of taking up residence aboard a ship rather than in an assisted living facility and I’ll bet you’ll find that it is less expensive and more satisfying to travel around the world, a voyage that comes complete with stewards, housekeepers, cooks and staff looking after every social need, and an infirmary and medical staff for primary health care. The ship offers far more variety in daily activities and better access to personal trainers, dance instructors and bar tenders. Entertainment too. No joke.

Cunard Line (mother of the QE II and new Queen Mary) is offering a 105-day cruise, “Exploration of Distant Horizons,” for approximately $27,000 (or less, if you forgo an ocean view) – that comes to a little more than $250 a day (with three meal plus snacks!). It is hard to find a New York hotel for that rate (sans cuisine); or a nursing home bed in a major city. And for a small additional fee, the staff of the QE II will arrange day trips while in port in Alexandria, Barcelona, Christchurch, Dubai…Nuku’alofa, Phuket, Rabaul and other fascinating places. Certainly beats an outing to the local domestic strip mall.

Finding a place where one is as well cared for (perhaps pampered is a better expression) and where the continuing stimulation is continuous isn’t easy. Colleges and universities have begun to offer living situations that provide some interesting life-style alternatives.

Over the years, Elderhostel has arranged with universities to lease unused dormitory rooms in the summer as a source of modestly priced accommodations for young seniors (55 years or older) who are enrolled in programs taught by university faculty and other local experts on a vast range of subjects. Designed to be short-term interludes, Elderhostel provides innovative vacation opportunities, but not a replacement for one’s normal residence.

Now universities are constructing housing especially designed for returning alumni (and for those wishing they were alums). For example, Harvard and MIT are partnering in University Residential Communities in Cambridge, MA. The marketing piece says, “Join those with an affinity for the university lifestyle…in a community alive with intellectual curiosity, camaraderie, creativity and the free and open exchange of ideas.”

Not only are alumni coming home to campus, but so too are retiring faculty who wish to stay closely connected to the place where they taught for many years. Satisfaction comes not only from the nearby social, sports and cultural activities, but also from the variety of age ranges – from young freshmen to older retirees.

While some of these campus-connected initiatives allow residents to audit classes, others have less structured arrangements, setting up on site mini courses that are tailored to the residents’ special interests. Students often work part-time in the residences as interns, providing special skills and assistance. And several communities maintain ties to local university-based medical facilities that provide various levels of health care for the residents.

In some cases, third parties, in various types of partnerships with universities, have established residences near college campuses. The Kendal Corporation, for example, manages housing near Dartmouth, Oberlin, Cornell and Washington and Lee, and several other campuses. Each has been developed independently, according to the needs of the specific community. The easy reference, the AARP also maintains a list of campus-based housing.

Retiring baby boomers are finding life back in the arms of alma mater as attractive an option for this stage of life as it was when they were undergraduates. As one person said, “It is a way to keep your faculties.”