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Costs and Financial Aid

Committed to Affordability

Olin remains dedicated to making education financially accessible. Our combination of rigorous academics, strong career outcomes, and generous financial aid is why Olin was ranked #3 in Undergraduate Engineering Programs (non-doctorate) by U.S. News & World Report and #2 for Financial Aid by The Princeton Review in the 2026 rankings cycle. 

The Olin Tuition Scholarship 

The Olin Tuition Scholarship is a merit-based award granted to all admitted students. Covering eight semesters of full-time study, the scholarship honors exceptional achievement both inside and outside the classroom and reflects our belief in your potential to thrive at Olin.

This scholarship is part of our broader commitment to access and excellence, designed to attract ambitious, mission-driven students who are ready to make a positive impact in the world and to help make an Olin education possible for them.

Need-Based Aid at Olin

In addition to the Olin Tuition Scholarship, the College is committed to meeting full demonstrated financial need for up to eight semesters of required full-time study, provided students apply by the appropriate deadlines and are eligible for assistance.

Eligibility for need-based aid is determined through the Free Application for Federal Student Aid (FAFSA). At this time, need-based aid is available to U.S. Citizens and Eligible Non-Citizens.

Phoenix Award

The Phoenix Award is a four-year grant recognizing students who embody Olin’s ethos of leadership, service, community impact, and a commitment to educating, edifying, and healing. Recipients are students who demonstrate a strong commitment to human flourishing.

Preference is given to students from middle-income backgrounds who may face disproportionate financial challenges in higher education. This award is designed to help bridge financial gaps and support access to an Olin education.

Award amounts range per year and reflect Olin’s investment in future changemakers. Recipients are selected through Olin’s two-step holistic admissions process, and awards are communicated at the time of admission.