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      <AccountantCompileOrReviewInd>false</AccountantCompileOrReviewInd>
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      <PublicSupportPY509Pct>0.94950</PublicSupportPY509Pct>
      <InvestmentIncomeCYPct>0.06000</InvestmentIncomeCYPct>
      <InvestmentIncomePYPct>0.05000</InvestmentIncomePYPct>
      <ThirtyThrPctSuprtTestsCY509Ind>X</ThirtyThrPctSuprtTestsCY509Ind>
      <Form990ScheduleAPartVIGrp>
        <FormAndLineReferenceDesc>PART III, LINE 12</FormAndLineReferenceDesc>
        <ExplanationTxt>OTHER INCOME 11</ExplanationTxt>
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    <IRS990ScheduleD documentId="RetDoc3">
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        <DepreciationAmt>106980</DepreciationAmt>
        <BookValueAmt>34528</BookValueAmt>
      </OtherLandBuildingsGrp>
      <TotalBookValueLandBuildingsAmt>34528</TotalBookValueLandBuildingsAmt>
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    <IRS990ScheduleJ documentId="RetDoc4">
      <BoardOrCommitteeApprovalInd>X</BoardOrCommitteeApprovalInd>
      <SeverancePaymentInd>false</SeverancePaymentInd>
      <SupplementalNonqualRtrPlanInd>false</SupplementalNonqualRtrPlanInd>
      <EquityBasedCompArrngmInd>false</EquityBasedCompArrngmInd>
      <CompBasedOnRevenueOfFlngOrgInd>false</CompBasedOnRevenueOfFlngOrgInd>
      <CompBsdOnRevRelatedOrgsInd>false</CompBsdOnRevRelatedOrgsInd>
      <CompBsdNetEarnsFlngOrgInd>false</CompBsdNetEarnsFlngOrgInd>
      <CompBsdNetEarnsRltdOrgsInd>false</CompBsdNetEarnsRltdOrgsInd>
      <AnyNonFixedPaymentsInd>false</AnyNonFixedPaymentsInd>
      <InitialContractExceptionInd>false</InitialContractExceptionInd>
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        <PersonNm>DAVID HOLLIDAY</PersonNm>
        <TitleTxt>VICE PRESIDENT</TitleTxt>
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        <DeferredCompensationFlngOrgAmt>10431</DeferredCompensationFlngOrgAmt>
        <TotalCompensationFilingOrgAmt>53961</TotalCompensationFilingOrgAmt>
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      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>SCHEDULE J, PART III</FormAndLineReferenceDesc>
        <ExplanationTxt>DURING THE CALENDAR YEAR ENDING DECEMBER 31, 2024, DAVID HOLLIDAY WAS PARTIALLY COMPENSATED BY THE REGENTS OF UNIVERSITY OF MINNESOTA, AN UNRELATED ORGANIZATION. THE NATIONAL STUDENT EXCHANGE (NSE) REIMBURSED THE REGENTS OF UNIVERSITY OF MINNESOTA IN THE AMOUNT OF 39,551 FOR HIS SERVICES AS A BOARD MEMBER AND VICE PRESIDENT OF NSE. THIS AMOUNT IS INCLUDED IN DAVID'S COMPENSATION REPORTD IN PART VII.</ExplanationTxt>
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    <IRS990ScheduleO documentId="RetDoc5">
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990 - ORGANIZATION'S MISSION</FormAndLineReferenceDesc>
        <ExplanationTxt>NATIONAL STUDENT EXCHANGE INSPIRES ACADEMIC ENRICHMENT, PERSONAL EXPLORATION, AND STUDENT DEVELOPMENT BY FACILITATING ACCESSIBLE COLLEGIATE STUDY AWAY AMONG MEMBER COLLEGES AND UNIVERSITIES THROUGHOUT THE UNITED STATES, CANADA, AND U.S. TERRITORIES.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 11B</FormAndLineReferenceDesc>
        <ExplanationTxt>FORM 990 IS PROVIDED TO ALL BOARD MEMBERS FOR REVIEW PRIOR TO FILING.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 12C</FormAndLineReferenceDesc>
        <ExplanationTxt>WHEN THE BOARD OF DIRECTORS CONSIDERS A MATTER OF PROPOSED TRANSACTION, ANY INTERESTED PARTY WHO HAS OR MAY HAVE A CONFLICT OF INTEREST IS REQUIRED TO DISCLOSE IT PROMPTLY AND PROVIDE ALL MATERIAL FACTS AND CIRCUMSTANCES IF THE POTENTIAL CONFLICT HAS NOT PREVIOUSLY BEEN DISCLOSED. ANY MEMBER WITH AN IDENTIFIED CONFLICT OF INTEREST IS EXCUSED FROM BOARD DELIBERATION AND ABSTAINS FROM VOTING ON THE MATTER.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 15A</FormAndLineReferenceDesc>
        <ExplanationTxt>THE PRESIDENT UNDERGOES A FORMAL, WRITTEN EVALUATION EVERY THREE YEARS BY THE GOVERNING BOARD/COUNCIL USING THE 360 DEGREE FEEDBACK SURVEY PROCESS. WITH A SUCCESSFUL EVALUATION, THE PRESIDENT IS APPOINTED FOR A THREE-YEAR PERIOD WITH A THREE-YEAR SALARY PACKAGE TIED TO THE REAPPOINTMENT. THE COUNCIL APPROVES RENEWAL OF THE PRESIDENT'S CONTRACT AND MAKES DECISIONS ON SALARY INCREASES.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 19</FormAndLineReferenceDesc>
        <ExplanationTxt>THE NATIONAL STUDENT EXCHANGE PUBLISHES AN ANNUAL REPORT WHICH INCLUDES THE FINANCIAL STATUS OF THE ORGANIZATION, MEMBERSHIP, AND SIGNIFICANT EVENTS AND/OR DECISIONS MADE.</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleO>
  </ReturnData>
</Return>