In a completely different context, Jack sent me a link to these data about graduates from The University of Western Ontario.
I was struck by the default rates on student loans.
Roughly speaking, students majoring in fields where they were less likely to find jobs were also somewhat more likely to default on their student loans [OSAP: it stands for "Ontario Stereo Acquisition Programme" according to some financial aid folks].
But the majors who are most likely to default: Theology students. What is up with them? It's okay to stick it to the taxpayers, so long as it's God's work?
Surely, if the private sector were involved in these loans, they would insist on higher down payments, co-signers, and/or higher interest rates to compensate for the increased risks of lending to theology students.
Addendum: Compare the relative low default rates, on average, at UWO and in Ontario as a whole with those in the US.