While leader identity development (LID) and meaning making are interwoven and essential for student development, little research has explicitly explored their intersection. In this article, we briefly summarize the work of two research projects that explored the intersection of LID and meaning making, including a review of the findings that “worthiness” is a central component of the LID process among college students. Next, we propose an Input‐Process‐Worthiness‐Outcome model for LID that highlights the centrality of worthiness, conceptualizing inputs as developmental experiences; processes as meaning making, and outcomes as personal development. Finally, we close with a review of the scholarship behind the concept of worthiness and point out future research directions that require exploration regarding worthiness in LID, particularly among college students.