Fairfield’s strong profile was characterized by enrollment growth, steadily improving selectivity, solid student success metrics, and good financial leadership.
Standard & Poor's (S & P) Global Ratings raised its long-term rating and underlying rating (SPUR) to A from A- on the Connecticut Health & Educational Facilities Authority’s various bonds issued for Fairfield University.
The upgrade is based on improved credit characteristics and reflects the rating agency’s assessment of Fairfield’s market position which it believes “demonstrated an impressive trend of growth and improvement in recent years, and the University’s proven ability to manage operating adversity and budget effectively, leading to consistent full-accrual operating surpluses.” In addition to enrollment growth aided by steadily increasing applications and growing first-year classes, Fairfield’s enterprise profile was assessed as very strong, characterized by improving student metrics and good financial leadership. Additionally, a generous donor base, conservative and intentional budgeting, and financial management practices are contributing factors.
The University’s financial operations have been strategically managed since 2014 by Michael Trafecante MBA ’01, P'22,'21,'19, under the leadership of Fairfield University President Mark R. Nemec, PhD, since 2017 and Senior Vice President, Finance & Administration JoAnne Williams, JD, since 2021, alongside Provost Christine Siegel, PhD, and Vice President of Enrollment Management Corry Unis since 2018.
Contributing to Fairfield’s growth is senior leadership’s commitment to improving and expanding program offerings across the University, such as the addition of doctoral-level programs in the Marion Peckham Egan School of Nursing & Health Studies and the Charles F. Dolan School of Business, in addition to Fairfield Dolan bringing its master's programs to Shanghai and India.
In recent years, the School of Engineering has introduced market-relevant programs in Cybersecurity, and the College of Arts and Sciences has launched programs in Digital Media and Communication. Fairfield is also building out new graduate and online programs as part of its strategic plan, recently expanding the Egan School of Nursing to Austin, Texas, where a 15-month accelerated second-degree nursing program will be offered to the first Texas cohort beginning May 2023.
Over the last several years, Fairfield recorded steady improvements in fundraising that, in addition to a capital campaign, helped fund several programmatic and capital initiatives on campus.
