A new, national program of merit scholarships for college-bound students is advocated. The objective would be to identify students, who on the basis of high school accomplishments, show promise of making an exceptional contribution to the country, as judged by panels of business and education leaders. This national effort, which would provide four-year scholarship grants, would encourage students to continue their pursuit of excellence. Federal efforts to encourage access and equity for college students through financial aid are briefly addressed, as are merit awards granted nationally and by states and institutions. Components of the new proposal include the following: winners would be selected through community, state, and national committees; the awards would be called"Learning for Leadership Grants"; the grants would be $2,500 each year for up to 4 years; and winners would receive grants from the resources "Learning for Leadership Trust" funded through private corporation and individual subscriptions. In addition to encouraging achievement of promising youth, the following objectives are identified: helping students to choose suitable colleges; providing aid substantial enough to make a difference; and maintaining efforts to provide equal access to all. (SW)