There are three tiers of leadership that the Red Cross recognizes. One of them gets you a red cord. Another a red cord and chance to get a scholarship. The last, a red cord, chance to get a scholarship, and a recommendation from the CEO of the American Red Cross. Each tier requires different accomplishments through your junior and senior year. More details can be found here

Class of 2015 and beyond: If you are interested in the program go to this web page and create an account with the American Red Cross.