Mix all ingredients together, except the bread slices and Sauce. Shape into a loaf. Line a 1 1/2-quart loaf pan with the bread slices. Place meatloaf on top. Bake loaf for 1 hour and 15 minutes. The bread absorbs the grease and should be discarded after loaf is removed from oven.
For the sauce: Heat the soup and milk over medium heat; add the cheese. Add the chopped onions and parsley to the sauce, if desired. Pour Sauce over the meatloaf or pass at the table.