Declining revenues at the Erickson School of aging studies left University of Maryland, Baltimore County administrators few choices. Despite the increasing need for such expertise in a fast-graying America, the program attracted only a modest number of students and donations were down. Laying off a significant share of its faculty recently may have been a financial necessity in these tough economic times, but it's a shame.
This field has tremendous potential for growth, and the demographics of the country explain why.
The program was created four years ago with a $5 million donation from the Erickson Foundation, an outgrowth of the Catonsville-based company of retirement communities, and a matching state grant. The studies program coincided with a trend of seniors moving from family homes to retirement communities and the aging of the baby boom generation. The eldest of that generation are beginning to reach retirement age, and by 2030, 20 percent of the population will be 65 or older. Maryland has more than 650,000 people 65 or older, and almost 1.5 million people 45 to 64 years old. In addition, the average life expectancy is nearing 80, allowing people to live healthy lives well past retirement.
