RCMP say the assaults occurred in student dorm rooms at the Prairie Bible Institute in Three Hills early Sunday.
A school spokesman says the suspect broke into the residence building through a ground-floor window.
Peter Mal says the intruder roamed the halls and went into the unlocked rooms of several men and women.
He says the man allegedly touched limbs and asked for sexual favours but was not physically aggressive.
Some of the victims screamed and told him to go away.
The culprit left the area on a bicycle.
The school's president, Mark Maxwell, says it's unsettling the assaults happened during freshman orientation weekend. About 150 students were on campus for the first time on Saturday to attend information sessions and a concert. Many moved into their new dorm rooms.
The building was evacuated for several hours Sunday while officers investigated.
"We are, however, grateful for the quick RCMP response and the way students, who are new to the community, have worked together with police and rallied around one another," Maxwell says in a letter posted on the school's website.
"We are grateful for God's provincial care in the middle of this crisis and anticipate His healing in the days ahead, especially for victims."
RCMP say video surveillance in the dormitory captured images of the attacker.
Investigators say they're looking for a male about six feet tall and weighing 200 pounds. He may also have a tattoo on the right side of his neck.