The rating on Connecticut Health and Educational Facilities Authority's bonds, issued for Fairfield University, reflects a good student quality, stable financial condition, modestly growing enrollments, an expanding applicant pool, and moderate debt. Offsetting factors include high tuition dependence and low endowment per student. Freshman applicants rose 13% to 5,494 from fiscals 1996-1998. The larger applicant pool allowed the university to accept a larger freshman class without impacting student quality. In fiscal 1998, the acceptance rate of 68% is 3% lower than 1997, while average SAT scores increased a little to 1128. The freshman class grew 13% from 1996-1998, driving growth in undergraduate headcount, which now stands at 5,179, 4% higher than 1996. Primarily due to the recent introduction of an
