<p>Olin is probably the youngest college with its own CC forum, but its automatic</a> full tuition Olin Scholarship for admitted students has attracted plenty of attention. (That's a $130K scholarship, according to their website.) Now, the newest college has the newest College Rep at CC... please join me in welcoming OlinAdmission!</p>
<p>(As a reminder, we have taken reasonable steps to verify that our College Rep members are indeed who they claim to be. If you encounter anyone in the community who claims to be from a college's admissions office but isn't designated as a College Rep, please let us know and be wary of any advice provided before that person is so designated.)</p>
<p>Stop in and say hello in this thread, but please do NOT use this thread to ask questions - start a new thread with an appropriate title. In addition, since our College Reps are busy people, please do NOT start threads asking for help specifically from the Rep - please post the query to the community in general, and you'll be likely to get multiple informed views on the subject. If the College Rep can provide useful input, no doubt he/she will chime in.</p>
<p>Yey Olin college! I would actually love to go to a school like olin, too bad I didn't qualify for it when I was in High School and knew nothing about it back then.</p>
<p>Welcome. It's an amazing place! My D was sorely tempted but opted for broad liberal arts (and plans for more technical grad studies). Hope you are having a terrific recruiting year.</p>
<p>Franklin W. Olin's trust had to liquidate in X year's per its terms. Trustees decided best way to advance engineering education, which was a primary purpose of the trust, was to start a new exemplary school. The trust was large and the school is small. Hence, the scholarships (particularly in the start-up years of the school, when it is competing for extreme top end students).</p>
<p>I think the it was completely cost-free in the initial year or two. That is, not even dorm costs. Now it is only tuition-free. May be in the coming years it can be something like this: m% tuiton free, (100-m)% full tuition, where m keeps increasing each year until the college breaks even. That is my guess.
Is the Olin model the same as that of Cooper Union?</p>
<p>Olin College was created by the Franklin W. Olin Foundation. After many years of philanthropy, building 72 buildings on 57 college campuses, the foundation decided to start a new engineering college in order to reform engineering education, with help from the NSF. Their endowment was in excess of $400 million, which remains one of the largest such commitments ever to American higher education. One of the Foundation's stipulations was that the tuition would "always be free" for accepted students.</p>
<p>conundrum: Not quite right, but close enough. Starting in 2021, if the College found itself in a dire financial situation where even reduction of class size would not be enough to continue the viability of the College, if 90% of the Board of Trustees voted to decrease the scholarship, the scholarship could then be reduced, but never reduced so much that Olin students would pay more than their peers at respected public schools. </p>
<p>The fact of the matter is, that situation is HIGHLY unlikely, and nobody wants it to happen. It would be a last-ditch effort to keep the Olin dream alive.</p>
<p>The way the foundation can do this indefinitely is due to interest. $400 million invested at a good rate produces tuition for 300 students each year (about - I know they had to dip into the actual foundation money to start the school up). Plus, soon alumni will be donated part of their huge salaries!</p>
<p>Just to clarify an earlier comment, Olin was not completely free the first two years. We still had to pay for dining plan, student activities fees, travel and other miscellaneous costs. Tuition and room was covered for the Classes of 06 & 07.</p>
<p>Though Partner Year (a special year for 30 students before the first Freshman year) was free. We didn't pay room, board, tuition, or even books. Those were crazy days.</p>
<p>PETITION TO MOVE OLIN TO CC TOP UNIVERSITIES-
mathwiz
ei2kpi
melman
Kaman
Pchan406
catushi</p>
<p>So I heard that Olin is an all boys' school, but that's not true, right? It's such a new school, us West coasters must have no knowledge of it haha.</p>