This study examined the differences between a multi-campus sample of university students who reported consistent participation in formal leadership development programs (n=414) and a comparison sample (n=153) with no prior experience across three diverse post-secondary institutions in the United States. Both samples were matched with regard to gender and racial identity, prior self-reported high school leadership training experience, and self-reported possession of formal leadership positions in co-curricular student organizations. Results suggest that students who report past consistent participation in post-secondary leadership training report levels of leadership capacity no different than those with no training. In addition, like their peers they also possess a cognitive model of leadership capacity that fails to differentiate leader self-efficacy, motivation to lead, and leadership skill.