Let's think about it from a collegiate perspective, as it sounds like you are not an alumna (yet). A formal for a chapter of 60-ish, so say 100 people with dates, in a nice city hotel with a sit down dinner can run $5-8k without any extras (and that's the cost when I planned then 10 years ago!!).
Add transportation, DJ, Dance floor, third party vendor for beverages....and before you know it, you are out $10k+! And that just for ONE night?
A Convention for 3-4 days, multiple meal options, additional conference rooms for breakout sessions, hotel staff to serve the 500+ people who attend. Well, it's expensive! FHQ makes Convention as cost effective as possible by giving US, the attendee's, the option to pick and choose the events we want to attend. If you don't want to attend everyday all day, select the parts that are important for you and your interests.
If you are close enough to drive...pay for the parts you want to attend, pile some of your sisters in a car, and GO! If you cannot, talk to your chapter about adding additional budget for the next Convention. Or better yet, attend The Workout session next summer with a large collegiate group. The The Workout is much cheaper and many times more exciting for a collegiate.
Unfortunately all collegiates cannot attend events such as convention, but it's not due to being exclusive. And for the diversity comment, I'm not sure how Convention would promote diversity other than already having sisters from each collegiate chapter in attendance. We are all Alpha Xi Delta's after all! Lastly, I was a volunteer presenter at the last Convention as were 2 sisters with me....I paid my own way and so did they. Granted we weren't keynote speakers, but in ANY Convention a keynote speaker is a special guest and therefore a cost I am willing to pay for in my fees.
I understand the financial concerns....I took an $8k pay cut this year and it hurts really bad, but I'm budgeting to go, getting a hotel roomie, and picking the events that matter to me. Do what Amanda did....she created a savings account, just for Convention!!
Just my two cents.....sorry I'm wordy, but it's been a long, long few days in Alpha Xi advisor land and I finally get my give my opinion!