by our College Data Analytics TeamMost students won’t pay the advertised price of a school. Instead, they will be provided with a financial aid plan that includes a mix of scholarships, grants, loans, and work-study. But some kinds of aid are more desirable than others, and some students will get more than others.
What financial aid options does Olin College offer, and what will you qualify for? Keep scrolling for answers.
Olin College average financial aid offer for freshmen students is $39,989.00. 100% of first-year students are awarded financial aid, primarily comprising grants and scholarships.
Loans are included in the umbrella of ‘financial aid’, even so, the only true discount from the cost of college is a grant or scholarship that you don’t have to pay back.
We feel that loan debt ought to be regarded as a consequence instead of true financial aid. Learn more on student loan debt at Olin College.
Colleges and universities offer institutional scholarships and grants as financial assistance to help students cover tuition fees and other educational costs. These awards, which do not require repayment, can be merit-based or need-based. Merit-based institutional scholarships recognize students who have exceptional academic records, special talents, or skills in particular areas. Eligibility for these scholarships often depends on factors such as a student’s high school performance, standardized test scores, or involvement in extracurricular activities. In contrast, need-based institutional grants are designed for students who show financial need. The amount awarded usually depends on the student’s family’s financial condition and aims.
The next numbers refer to grants and scholarships mainly supplied by the college itself.
100% of new students (85 total) were offered scholarships at Olin College, averaging $38,838.00 per person. This puts it the top 25th percentile among colleges and universities nationwide.
In addition to scholarships, 68% of first years (58 total) were awarded federal grant aid, averaging $2,159.00 each.
The next table displays grant and scholarship distributions by family income for freshman students getting any kind of federally-funded Title IV aid, such as Federal PLUS loans.
| Income Level | Percent of Freshman | Average Assistance |
|---|---|---|
| Income 0-30k | 12.94% | $72,278.00 |
| Income 30k-48k | 3.53% | $73,427.00 |
| Income 48k-75k | 5.88% | $59,986.00 |
| Income 75k-110k | 3.53% | $56,978.00 |
| Income 110k + | 11.76% | $39,024.00 |
The table above shows students who are obtaining Title IV aid, which is federal assistance from the government in the form of grants, loans, and work-study. Learn more here.
85 Olin College undergrads obtain grant aid (this is about 100% of the entire undergraduate student population). The average amount these students receive is $39,989.00.
Check out the Tuition and Fees page or the Cost Per Credit Hour page to find out more.
References
More about our data sources and methodologies.