Alumni/Graduate = 2.0 or 2.No?

I am the network creator for the Tools of Engagement Ning community. A lot of people are inquiring about the successes of 2.0 solutions for alumni and graduate students. Have any of you found or know of any case studies of people using social networking platforms to facilitate this? Young alumns definitely have more of a grasp and familiarity with sites like Facebook and Myspace, but for the older generation of alumns (and graduate students), I could see Ning being very successful. Thoughts? Answers?