During the palmy days of the high-rolling 1980s, some Harvard Business School M.B.A. candidates would march into commencement ceremonies waving dollar bills, graphically displaying what they thought their futures held. They have not been doing that in the entrenched and downsized '90s. Now they brandish miniature flags of foreign countries.
A telling and serious point stands behind such graduation high jinks. In growing numbers, students in U.S. colleges and professional schools are looking to go abroad. Such wanderlust among the young is nothing new, of course; travel has traditionally been a means of letting off steam after years of cramming for...