The rating on New Jersey Educational Facilities Authority's bonds, issued for Rowan University, formerly known as Rowan College, reflects: * Competitive admissions, * Solid student quality, * Good financial cushion, and * Adequate state support. Freshman applications rose 44% from fiscals 1995-1998. Demand was bolstered by the introduction of an engineering program for fall 1996, the first doctoral program offering in fall 1997, and state approval of university status for Rowan. Admissions are competitive for a public institution, with about 51% accepted. The matriculation rate is good, with 39% of accepted students enrolling. Average SAT scores for accepted freshman is above average at 1138. Total headcount enrollment for fall 1997 is 10,823, 2.7% higher than 1996. The engineering program was
