As part of an effort to develop a nontraditional alternative educational program for mentally gifted and talented students at Fullerton College, a study was conducted to determine the characteristics of 72 self-identified gifted students and to look at differences between high potential-low achievement students and high potential-high achievement students. Participants were asked to complete a battery of tests and questionnaires including the California Psychological Inventory, Study Attitudes and Methods Survey, Myers-Briggs Type Indicator Form G, Short Form of the Multiscore Depression Inventory, Modified Maslach Burnout Inventory, Beck Depression Inventory, Cognitive Style Questionnaire, and Student Academic Maintenance Study. In addition, academic records from college and high school were examined, and almost all participants were interviewed. The study revealed that the participants: (1) were unclear in their educational motivations and objectives; (2) demonstrated various skill deficiencies in cognitive processes; (3) manifested high "need for achievement" and low achievement on life tasks and academic performance; (4) manifested cognitive styles customarily not associated with high performance in standard academic institutional processes; (5) were likely to be "high risk" students; (6) manifested classic "burn-out" behavior such as exhaustion, cynicism and counter-productive behavior; and (7) manifested highly divergent career and avocational interests. (LAL)