Ayn Rand Institute has created a contest for students with great writing skills to assist them in their college education. The winning essay will have the chance to compete for the prestigious annual first-place award, aiming to win a grand prize of $25,000. Two first-place winners will get $3,000, 3 winners will get second place and $2,000 each, and 3 winners will get third place and $1,000 each.