The selection criteria for World Uni Games can be found here:
http://www.athletics.com.au/community/392/university_games_selection_policy
and the AUS link for further information is:-
http://unigames.com.au/extra.asp?id=622&OrgID=1
The cost for each athlete will be in the range of $3,000-4,000.
Any further questions - contact the delightful people at AA.