This study seeks to examine the processes through which leadership is fostered and developed within student leadership development programs. While there has been some scholarly literature written in this area, a dearth in the literature exists with respect to providing a detailed chronicle and examination of the complete processes employed within an exemplary student leadership development program. Through the analysis of such a program – validated by a recent NASPA (2011) study as an exemplar in the field of student leadership development – such a program will be examined. Through a qualitative, grounded theory approach using interviews to inductively build a framework of understanding, seven themes of student leadership development are identified. How these findings extend existing literature is then presented, as is a new theoretical model illustrating the process through which leadership is fostered and developed within students, thereby aiding the construction of future programs.