Although I am very much in favor of privacy rights, I don't think there is much difference between a laptop an other things such as a book, a photo album, etc. In other words, if you bring a photo album back, they are allowed to open it and look at the pictures...
That being said, I agree 100% with Lineman... TrueCrypt is great. Not only can it create an encrypted drive, but it can also create a
hidden drive.
A hidden drive is very useful in the event where someone "forces" you to unlock an encrypted file. Go on the link for more details.