ACTF (aka KCACTF) is the Kennedy Center American College Theatre Festival.
There are 8 regions in the USA.
Basically, colleges can have professors from other colleges come and give feedback on their productions.
If productions are awesomely incredibly, they may get an invitation to take their entire show to regional festival (in the case of a small college like mine that would not be able to afford taking a full production on the road, the show can be invited to take 15 minutes of the performance to the Night of Scenes.)
If there is an outstanding acting performance in a production, then the visiting professor has the ability to nominate an actor for the Irene Ryan National Acting Scholarship.
If you are nominated, you prepare two scenes (with a partner) and a monologue to bring to festival.
There are four nominees from my school going (nominated over the last two semesters), and I'm one of them.
There are other competitions and things there as well. There are seminars to attend, and shows to see. It's really rather an exciting week for theatre people.
And if people are blow-your-mind-unbelievable, then they might get to bring their designs/productions/scenes/monologues to National Festival at the Kennedy Center.
http://www.kcactf.org/mission_statement.html
I starred in a short film called
Magnetic Personality. Check it out!