This is speculation on my part but looking at the numbers, it seems as if the economy had quite the effect on admissions this year, not only at Notre Dame, but also at schools similarly ranked.
The admissions statistics released by Notre Dame indicated that the acceptance rate has increased. This could very likely be a counter to an anticipated decreased yield rate. With the economy the way it is, Notre Dame and her peers anticipate that more families will be unable to afford sending their students to the top schools. Thus, in order to maintain its enrollment numbers, Notre Dame has accepted more applicants this year, even despite receiving a record number of applications. Because increasing the acceptance rate will have a negative effect on selectivity ratings, Notre Dame has accepted students from a higher statistical range at the expense of students with lower numbers and certain intangibles. Many, it seems, even those aspiring towards higher education have been victim to this economy and the anticipation of the effects of this economy, including my sister who was not admitted to the University for the fall.
Disclaimer: This is just speculation, I can't claim to know anything on the matter first-hand.