Welcome to the wide world, Class of 2014. You have by now noticed the tremendous consignment of debt that the authorities at your college have spent the last four years loading on your shoulders. It may interest you to know that the average student-loan borrower among you is now $33,000 in debt, the largest of any graduating class ever. According to a new study by the Pew Research Center, carrying that kind of debt will have certain predictable effects. It will impede your ability to accumulate wealth, for example. You will also borrow more for other things than people without...