This is a great concept! One of the inspirations for Cranbrook Keys to Home, Home Share Program.
Here's the problem: Students are increasingly finding that accommodations near college campuses are substandard or unaffordable. Meanwhile, older people in care often experience social isolation, which studies demonstrate adversely impacts both their mental and physical health.
Here's how one organization is working on the problem: Humanitas Retirement Village, a long-term care facility in the city Deventer in the Netherlands, offers free accommodation to students in exchange for 30 hours of their time per month to help the older residents. Currently, six students are residents in the village. This arrangement provides a mutual benefit: rent-free accommodation for students and a younger demographic to help support the care of, and foster interactions with, older residents.
As part of their volunteer agreement, students teach residents various skills — such as using email and social media — and provide companionship. While these exchanges are important, it is living in such proximity that helps relationships and connections develop, eases loneliness, and makes a positive contribution to the mental health of the seniors.