Money Matters
Where does the Money Go?
Student Exchange Australia New Zealand Ltd is a ‘not-for-profit’ organisation which means there are no shareholders to whom profits can be distributed. We are ‘fee for service’ which means that program fees are used to cover the costs of providing the program in Australia New Zealand and overseas. As a rough guide program costs break down as follows:
25% of program costs occur in Australia and New Zealand and go toward the recruitment and selection of students for their overseas experience.
These include professional staff, processing of applications, student and family interviews, resource materials, orientation and assistance with visas and a contribution to general overheads.
27% of program costs go toward getting students to and from their destination.
These include domestic and international airfares with recognised airlines, airport transfers, insurance and processing of tickets.
48% of program costs arise in the hosting country and go toward the care and support of students.
These include full time professional support staff, recruitment and selection of volunteer host families, recruitment and selection of local coordinators, provision of arrival orientations, development of resource materials and facilitation of school enrolments, etc.
A couple of relevant studies for Australia1 and New Zealand2 have identified the costs of keeping a teenager at home. In Australia it is estimated to be up to A$717/week. In New Zealand it is estimated to be over NZ$1000 per week, depending on the number of children in the household. Compare this to the cost of our participation fee and the value of our programs is immediately clear. A student exchange program is an investment for life. Experience is everythingTM
1. AMP NATSEM Income and Wealth Report May 2013 conducted by the National Centre for Social and Economic Modelling (Australia)
2. Costs of Raising Children March 2010 conducted by Inland Revenue, Te Tari Taake (New Zealand)
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