[1] Olson attended the University of South Dakota from 1936 to 1940 where he became a member of the Sigma Alpha Epsilon fraternity,[2] and was commissioned through Army ROTC and following graduation.

Olson repeatedly led his men in attacks against German forces, personally capturing several enemy positions, until he was mortally wounded during a reconnaissance patrol.

Olson, aged 25 at his death, was buried in Fort Snelling National Cemetery, Minneapolis, Minnesota.

Captain Olson's official Medal of Honor citation reads: For conspicuous gallantry and intrepidity at the risk of his life above and beyond the call of duty.

Olson waded into the chest-deep water of the raging Volturno River and despite pointblank machine-gun fire aimed directly at him made his way to the opposite bank and threw 2 handgrenades into the gun position, killing the crew.

Although the company to his right was forced to take cover from the furious automatic and small arms fire, which was directed upon him and his men with equal intensity, Capt.

Olson waved his company into a skirmish line and despite the fire of a machinegun which singled him out as its sole target led the assault which drove the enemy away.