Franklin W. Olin College of Engineering

Franklin W. Olin College of Engineering Tuition Information

In 2022, Olin College of Engineering's tuition was $59,972 a year.

Tuition increased 4.7% in 2023–from $57,280 the prior year. On average, college tuition rises about 3% year.

If this information makes going to college feel scary, remember, the total cost of tuition isn't necessarily what you will have to pay to attend a school. Many students find the actual cost of college is a lot less than the sticker price after grants, scholarships, and tuition discounts are applied. Plus, student loans can make theactual cost of attending college feel more doable until after graduation.

Olin College of Engineering meets 99% of the demonstrated financial need for undergraduates. First-year students that attend Olin College of Engineering full-time are awarded $57,157 a year in financial aid, on average.

Students in the class of 2023 who had taken out student loans graduated with an average of $19,911 of debt.

In-state vs. Out-of-state Tuition at Olin College of Engineering

Olin College of Engineering is a private, religious institution, so it has the same tuition for residents of Massachusetts as it does for residents from other states.

Public colleges and universities receive funding from the state government. Public, state schools can offer lower tuition for students who meet the requirements for in-state residency.

Choosing a college where you qualify for in-state tuition can save on the total cost of attending college. Take the time to confirm your state's guidelines for how to qualify for in-state residency. Each state has different requirements to qualify as in-state resident. Most states require students to have resided in the state for a certain period of time before qualifying. There may be additional requirements as well, depending on the state you and your parents currently live in.

Explore other Massachusetts colleges

Do International Students Pay More to Go to Olin College of Engineering?

Olin College of Engineering has the same tuition for international students as for those from out of state.

International students are not eligible for loans or grants from the U.S. government, but may be eligible for private or Olin College of Engineering-specific grants, scholarships, and other funding opportunities. International students who demonstrate financial need may be eligible for the following types of financial support at Olin College of Engineering:

•Olin College of Engineering-specific scholarships

International students without financial need may be eligible for merit-based institutional scholarships.

Olin College of Engineering Housing Expenses, Fees, and More

Tuition is not the only cost of attending college; room and board, books, transportation and fees are also costs it consider when budgeting for college. Let's take a look at what impacts these costs, and what to expect at Olin College of Engineering.

House and Food Costs at Olin College of Engineering

Room and board at Olin College of Engineering costs $19,820 a year. This includes the cost of living in dorms or other on-campus housing, and a dining plan that allows you to eat in the school dining halls.

Meal-plan costs can depend on how many meals are included in the plan you choose.

Cost of Books at Olin College of Engineering

First-year students are sometimes surprised by how much books and supplies cost–and not in a good way. The real cost of books depends on the courses you take and the textbooks, computer programs, or other materials are required.. To save money, many students choose to use books from the library or buy books from students who have already taken the course.

Yearly Fees

Most schools also have fees to offsets cost associated with maintaining facilties, like the computer labs and libraries, athletic facilities, and more.

There may be other costs associated with participating in special activities, like Greek Life, or playing on an intramural sports team. Most colleges offer resources for students with demonstrated need to find ways to lower or eliminate these fees.

Planes, Trains, and Automobiles: Transportation costs at Olin College of Engineering

The total cost of getting around in college depends on a few key factors. Will you take a subway, car or an airplane to get to school? Will you need to pay to park on-campus? Is the campus walkable? Do you plan to bring a car or are you planning to use public transportation? All of these questions can make a big difference in your transportation budget. Keeping in mind, first-year students are allowed to park a car on campus.

A school's location can also have a big effect on the amount you'll have to spend just to get around. Small, rural schools may be easier to get around, but the cost of getting to campus may be higher. On the other hand transportation in an urban area is usually expensive, but there may be more trains, busses and low-cost flight options to actually get to school. Olin College of Engineeringis located in a suburb in Massachusetts, near Boston.

Other Costs

When you're planning for college, don’t forget to consider personal expenses, like going out to eat or see shows, furnishing your living space, and things like haircuts, clothes and, yes, even toilet paper and shampoo.

Total Tuition and Expenses at Olin College of Engineering

Now, let’s do a rundown of all of the costs associated with college, to get a better idea of the actual cost of attending Olin College of Engineering.

Total Cost of Olin College of Engineering

What will the cost of attending Olin College of Engineering be? Here is a breakdown of tuition and expenses.

2023 Total Tuition and Expenses
Tuition	$59,972
Room and Board	$19,820
Other expenses	$472

The total estimated cost will vary depending on whether you are going to live on-campus or off-campus.

Total Estimated Costs
On-Campus	$82,094
Off-Campus	$61,802

The breakdowns above provide a good estimate of the total cost of attendance before financial aid and scholarships. Tuition and fees may vary depending on program, course level, location, and more.

Olin College of Engineering Financial Aid

In 2023, 157 of the 388 undergrads enrolled received financial aid. Olin College of Engineering meets 99% of the demonstrated financial need for undergraduates.

The average financial aid package for a full-time, first-year student is around $57,157 a year. Around 34% of Olin College of Engineering undergrads take out student loans to cover any remaining costs. Olin College of Engineering graduates who have student loans graduate with an average of $19,911 of student loan debt.

The average debt for each loan type varies.

Average Debt By Loan Type
Federal Loans	$15,437
Private Loans	$107,377

Most Common Loans for Olin College of Engineering Students
Federal Loans	34%
Private loans	1%

Most students take out institutional or government loans, because they tend to have lower interest rates and more flexible repayment options than private loans. Loans from the federal government can be subsidized or unsubsidized. Subsidized loans do not accrue interest during school, while unsubsidized loans begin accruing interest at the time the loan is issued. If students do no qualify for enough federal loans to cover the cost of tuition, some take out private loans. Parents can also take out ParentPLUS loans, which are government loans for parents who are helping their children pay for college.

The Free Application for Federal Student Aid (FAFSA) helps colleges determine how much financial need students and their familes have, so they can offer a financial aid package that meets, or come close to meeting, their need. For more information on Olin College of Engineering financial aid, keep reading, or visit their financial aid website.

Scholarships at Olin College of Engineering

Some students may receive grants and scholarships to help pay for college. Unlike loans, scholarships and grants do not have to be paid back.

In 2023, Olin College of Engineering awarded 157 need-based scholarships to students, giving away total of $8.3 million to help students with financial need cover the cost of school. An additional $6.16 million in merit-based scholarship money was awarded to students without demonstrated financial need.

Olin College of Engineering Net Cost

The net price of college is the actual cost of attending a school for one year. Net cost is calculated by subtracting any scholarships, grants or other aid that does not need to be paid back from the total cost. Student loans are not part of the calculation, because they need to be repaid.

Now that we have a sense of the total estimated costs for Olin College of Engineering students, we can subtract the average financial aid package to find the estimated net cost. Net cost can vary depending on a students’ need and the financial aid award received.

When considering whether a school fits your budget, it is important to consider the estimated net cost, not just the sticker price of tuition. Often, schools with the highest tuition also offer the most generous aid packages, so estimate your net cost before eliminating a school because it does fit your budget.

The average amount of financial aid received by a full-time first year student with demonstrated need at Olin College of Engineering was $57,157 in 2023. By substracting the average financial aid package from the estimated costs, we get a number that may make the cost of Olin College of Engineering seem more manageable.

Estimated Net Cost for Full-Time Students
On-Campus	$24,937
Off-Campus	$4,645

What will attending Olin College of Engineering really cost you? The answer depends on several factors.

As of 2011, colleges are required to have a net price calculator on their website to help prospective students and their families understand the actual cost of attending that school, based on their financial situation. You can find the Olin College of Engineering's net cost calculator on their website.

Olin College of Engineering Tuition Payment Plans

Some students choose to use payment plans to make the cost of tuition fit more comfortably in their budget.

Olin College of Engineering does not have guaranteed tuition.

Olin College of Engineering offers an Installment Payment Plan, which allows students to pay tuition in a series of smaller chunks instead of one lump sum.

Does Olin College of Engineering Offer Tuition Waivers?

Schools sometimes waiver tuition for certain groups, to offset the cost of attending. Some schools offer tuition waivers for employees and their family members, underrepresented students, or military students. Even if you qualify for a waiver, other expenses and fees are the responsibility of the student.

Check the financial aid website for more information on payment plans and tuition waivers.

Olin College of Engineering's Endowment

An endowment is the total value of a school's investments, donations, and assets. Endowment is not necessarily an indicator of the quality of a school, but it can give you a sense of how much money a college can afford to invest in expanding programs, improving facilities, and supporting students.

Olin College of Engineering's endowment was valued at $455.6 million in 2023, compared to a national average of $905 million. The school spends $34,718 for each full-time student enrolled.

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