As its price for supporting federal aid to education, the U.S. Roman Catholic hierarchy demands low-cost loans to parochial schools. The nation's first Catholic President refuses, and thus far both sides have argued the constitutional principles involved. The unexamined side of the debate is the actual financial state of Catholic parochial schools. Do they really need federal aid? Where do their funds come from? How much does a nun make?
The prosperity of parochial school systems varies considerably, but there is a consistent pattern. In any typical parish, the priest has the duty...