by our College Data Analytics TeamHere you will find what students actually borrow to attend Franklin W Olin College of Engineering: median debt, the percentile spread, total borrowing including PLUS loans, and the cost to repay. These figures are reported by the Department of Education and IPEDS.
For incoming students at Olin College, 29% of freshmen borrow to help pay for their first year, for an average of $6,807 each — a figure that counts both private and federal student loans.
On the federal side, the average loan is $4,467, which is 81.2% of the $5,500 first-year federal borrowing limit for a typical dependent freshman. Be aware: the undergraduate-wide averages below exclude private loans, while this freshman number includes them.
For undergraduates overall at Olin College, 27% borrow through federal student loan programs, for a typical $5,198 each per year. That is 16.4% more than the freshman federal average of $4,467.
Borrowing the same amount each year would add up to roughly $10,396 over two years and about $20,792 after four. The estimate holds federal borrowing constant and does not count private or Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 27% |
| Average federal loan per year | $5,198 |
| Undergraduates with a federal loan | 102 |
| Total federal loans (one year) | $530,191 |
The median student at Olin College borrows $14,287 in federal borrowing.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $14,287 |
| Students who completed (graduates) | $19,500 |
| Students who withdrew | $6,825 |
The figure for students who withdrew is worth watching: debt without a completed credential is the hardest to repay.
Looking only at the median is misleading — these four percentiles describe the full debt distribution for borrowers at Olin College.
| Percentile | Cumulative Federal Debt |
|---|---|
| 25th percentile | $6,500 |
| 75th percentile | $21,500 |
Repayment burden translates the debt figures into what a borrower actually pays each month. Olin College.
The default rate measures how many borrowers fall behind and ultimately fail to repay their federal loans. The federal two-year cohort default rate for Olin College follows.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 0% |
| Borrowers in the cohort | 15 |
A lower default rate generally signals that graduates earn enough to manage their loan payments.
Borrowing varies by family income, by first-generation status, and by dependency status.
Median Debt by Income Bracket
| Income tier | Median federal debt |
|---|---|
| High income | $15,925 |
By First-Generation Status
| Cohort | Median federal debt |
|---|---|
| First-generation students | $16,894 |
| Continuing-generation students | $13,925 |
The Department of Education computes gap indicators that show how borrowing differs between student groups at Olin College.
The Difference Between Subsidized and Unsubsidized Loans
With an unsubsidized loan, interest starts adding up the day the loan is disbursed, including during school. Subsidized loans, by contrast, do not accrue interest while you are enrolled at least half-time, which makes them the less expensive option when you qualify.
Important to Remember
Declaring bankruptcy does not erase federal student loan debt. If you stop paying, the federal government can garnish a portion of your wages until the loans are repaid.
References
More about our data sources and methodologies.