Costs and Scholarship Information
Greetings from the Olin College Admission Office!
There are several things to remember about admission and financial aid at Olin. It is important to note that admission to Olin is need-blind, meaning families' abilities to pay our costs are not a consideration when evaluating students' applications for admission.
As you may know, every admitted student receives a half-tuition merit scholarship valued at more than $80,000 over eight semesters.
At Olin, our need-based financial aid policies strive to make the College an affordable choice for students and families seeking a world-class education.
Please read on to learn how financial aid works at Olin. Don't hesitate to contact Jean Ricker, Manager of Financial Aid (jean.ricker@olin.edu or 781-292-2343), should you have any questions.
Sincerely,
Charles Nolan, Ph.D.
Vice President for External Relations and Dean of Admission
Estimated Cost: Academic Year 2012-13
Below are the current costs for the 2012-2013 academic year. Please note that these are estimated costs. Current Olin students should refer to the Financial Aid page for cost and scholarship information. We expect nominal increases in these figures for subsequent years.
Billed expenses | |||
|---|---|---|---|
| Tuition | $40,000 | ||
| Room | $9,000 | ||
| Meal Plan | $5,500 | ||
| Health Insurance (if needed) | $916 | ||
| Laptop Purchase* | $2,500 | ||
| Student Activity Fee | $175 | ||
| General Fee | $300 | ||
Unbilled expenses (estimated) | |||
| Books & Supplies | $300 | ||
| Travel & Incidentals | $1,500 | ||
| Cost of Attendance | $60,191 | ||
| Olin Scholarship | -$20,000 | ||
| Net Cost | $40,191 | ||
* Billed in two installments
Need-Based Assistance
Olin College is a need-blind institution and we offer need-based financial assistance in the form of federal, state, and institutional programs. Families interested in applying for additional assistance to meet costs in excess of the Olin Scholarship should complete a Free Application for Federal Student Aid (FAFSA) online at www.fafsa.ed.gov. Olin College’s institutional code is 039463. For incoming students, the FAFSA must be processed by February 15th to receive consideration for Olin need-based assisstance. The only required form to apply for financial assistance at Olin College is the FAFSA.
You may find more detailed information regarding need-based financial assistance on our Financial Aid page, found on the Student Accounts and Records website.
Please direct any questions regarding need-based financial assistance to Jean Ricker, our Financial Aid Manager, at jean.ricker@olin.edu or 781-292-2340.
Olin Tuition Scholarship (Non-Need Based)
The Olin College Tuition Scholarship is for a maximum of eight semesters of full-time study. Anyone permanently disqualified to attend or return to Olin College for academic or disciplinary reasons will forfeit the remaining portion of the scholarship. Study away (which requires pre-approval) or an internship for credit counts as one of the eight scholarship semesters (the student is maintained as full-time at Olin and is expected to pay Olin tuition after the merit scholarship and for any additional costs associated with any such activity at the host institution including any tuition exceeding Olin’s, room, board and fees if applicable). For mid-semester leaves of absence, the partial semester counts as one of the eight scholarship semesters. For end-of-semester leaves of absence, the semester on leave does not count as one of the eight scholarship semesters (unless the student requests transfer credit for this semester). Payment of full tuition is required for any semester(s) beyond eight before graduation. Olin College provides accommodations for documented disabilities. In extenuating circumstances, exceptions may be granted by the Provost and Dean of Faculty.
Outside Scholarship Policy
Olin encourages students to pursue outside scholarships to help reduce the cost of attendance. The federal government requires students to inform the Financial Aid Office of any grants, scholarships, or benefits received from sources outside of the College. It is our policy to use Outside Scholarships to reduce self-help awards before reducing Olin Need Based Grant. If the scholarship is restricted to tuition only, it reduces the amount of the Olin Scholarship accordingly.
NOTE: National Merit Finalists who win either a National Merit or National Achievement Scholarship from the National Merit Scholarship Corporation or another corporate sponsor are able to use this scholarship at Olin College and will be identified as National Merit Scholars. Finalists who designate Olin College as their first choice college but do not receive a NMSC or corporate-sponsored scholarship will be designated as Olin National Merit Scholars. Olin National Merit Scholars will be awarded a $1000 scholarship, renewable for three years, funded by Olin College.
