Speaking at a Harvard University commencement 60 years ago, Secretary of State George C. Marshall proposed a massive program of aid and redevelopment--since known as the Marshall Plan--to bring a war-ravaged Europe back to economic health, political stability, and peace. Today colleges and universities need a new such plan, with university teaching, research, and outreach at its center, to help resolve the socioeconomic inequalities that threaten the country and the world. At a time when other nations are challenging the United States economically as well as on religious, moral, and ideological grounds, presidents should enlist their colleges and universities to fulfill their potential as one of their most effective and credible diplomatic assets. Colleges and universities can and should play a more central role in helping countries that are struggling to meet the needs of their citizens by improving local education, research, and problem-solving skills. Indeed, the development of human capacity is not only one of the most effective ways to ameliorate global inequalities, but it is also a prerequisite for any enduring improvement of the standard of living at the local level, where it matters most. Ultimately, university and college presidents should develop a comprehensive strategy with global reach to guide and assist governmental efforts of the United States and other nations.