The problem comes in when you try to verify someone's ability to repay the loan. It's not just one's choice in major — for example, the graduation rate for Historically Black Colleges & Universities is only 35%. There are significant deltas between GPA, test scores, and college success rates between various ethnicities. Further, there are significant differences in the repayment of student loans between various ethnicities.

I would not want to be on the team that does a risk assessment with these facts as inputs, because the results would be politically untenable.