scholarships, but in 2009, responding to a significant decline in the college's endowment caused by the Great Recession, the trustees decided to reduce the merit scholarships to half-tuition for all students since the 2010–11 academic year.
== Student life ==
=== Dormitories and student housing ===
Olin College houses students in dorms and suites in either the West Hall or the East Hall. Olin students are required to live on campus unless an exception is made by the dean of student life due to personal circumstances (e.g., for married students or students with families nearby). In addition, the Office of Student Life picks student "resident resources" (R2s) to fill the role traditionally played by resident assistants (RAs) at other schools. Unlike most RAs, R2s are not directly responsible for enforcing dorm policies.
=== Honor code ===
The Olin Honor Code has five clauses, titled "Integrity", "Respect for Others", "Passion for the Welfare of Olin College", "Openness to Change", and "Do Something".
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