Olivetian lore says that while Shipherd was on a trip to the site in Eaton County, his horse continued to get lost, and would always wander back to a hill with an oak grove, which is where Olivet's Campus Square exists today.

They felt God had directed them to this oak grove for the purpose of founding a coeducational Christian college open to students of all races.

Many alumni have gone forth "Pro Christo et Humanitate".After assuming leadership in 2010, President Steven Corey announced the "Olivet College 2020 and Beyond Strategic Plan", which includes renovating existing buildings and facilities, creating a new student center, increasing endowment, and expand the student population to 1,500.

Its most popular undergraduate majors, in terms of 2021 graduates, were:[7] Olivet College has approximately 1,040 students, 40% female and 60% male.

[12] Students can volunteer for a radio shift from 7:30am to midnight Monday through Friday to broadcast music, campus events, news, and talk shows.

Olivet College athletic teams, nicknamed the Comets, participate in the following intercollegiate sports as a member of the MIAA include: Men: baseball, basketball, bowling, cross country, football, golf, soccer, swimming & diving, tennis, track and field (indoor and outdoor), volleyball and wrestling.

Women: basketball, bowling, cross country, golf, soccer, softball, swimming & diving, tennis, track and field (indoor and outdoor), volleyball, and cheerleading.