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Transact Student Financial Agreements

Student Enrollment & Tuition Policies

Cut down on paperwork and make it easier for your students to sign required financial agreements. With Transact's new Student Financial Agreement feature, your students can digitally sign legally-binding forms when they log on to pay their tuition and other school fees

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Check out Student Financial Agreements in action

How Student Financial Agreements Can Help Your Campus

University Benefits

  • Present updated agreements upon student login
  • Require students to accept agreements
  • Track students who have signed and extract signature status to ERP
  • Note the Student ID, Date, Timestamp, and IP address for legal and collection purposes
  • Viewable and printable by administrators

Student Benefits

  • Students view a pop-up alerting them that there is a new form available to sign when they log on to pay tuition
  • Students digitally sign legally-binding forms via an electronic signature
  • Viewable, downloadable, and printable by students
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Helping Students Understand Education Cost


  • Know Before They Enroll: Clear information on financial policies for enrollment and tuition.


  • Acknowledgment Required: Students must sign to confirm their understanding of education costs. 


  • Clear Payment Policies: Outline of policies regarding payment schedules and collection processes. 


  • One Path, One Commitment
Student Financial Agreements in a phone

Colleges and Universities are embracing our integrated payment products

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Have more questions?

Experience a live customized demo, get answers to your specific questions, and find out why Transact is the right choice for your institution.

  • A brief conversation to discuss your goals and how you're currently accepting payments.

  • Live demo of your suite of solutions for one connected campus.

  • Time to answer your questions and make sure you have all the information you need.

  • No commitment - demos are free!

  • Please submit your information and a Transact representative will follow up with you within 48 hours.
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Simplifying Compliance with Digital Student Financial Agreements

Today's college students expect instant access to information, especially regarding their financial obligations. Digitizing Student Financial Agreements (SFAs) provides 24/7 access for students and parents. For colleges and universities, this shift improves compliance and reduces administrative workloads by eliminating manual processes.

Higher education finance offices are increasingly pressured to implement digital SFAs, which streamline financial processes and reduce bottlenecks for students. Manual SFA handling is inefficient and error-prone, increasing compliance risks. By following best practices for SFA management, schools can mitigate these risks, enhance accuracy, and streamline operations.

Navigating the Complexities of SFAs

Navigating SFAs is time-consuming and resource-intensive for already overwhelmed university finance teams. Effective SFA management best practices are essential to avoiding compliance issues and ensuring smooth operations. Automating and digitizing these financial agreements reduces paperwork, minimizes errors, and keeps documents organized and accessible.

With staffing shortages affecting higher education nationwide, a recent NASFAA survey revealed that more than half of financial aid offices are concerned about their ability to adequately serve students. As schools face staffing shortages, the need for streamlined digital solutions, such as digital SFAs, becomes even more critical.

Many universities still use outdated manual processes, which cause delays, added workloads, and compliance risks from lost or incomplete paperwork. Automating the SFA process with digital tools minimizes these risks through real-time tracking, automatic updates, and error reduction.

SFA Management Best Practices

Following SFA management best practices is essential for maintaining transparency, ensuring operational efficiency, and reducing compliance risks. Digitizing and automating the process simplifies administration and ensures that agreements are current, accessible, and legally compliant.

A recent survey from the College and University Professional Association for Human Resources found that over half of financial aid professionals are likely to switch jobs in the next year, adding strain to already understaffed offices overwhelmed by the botched FAFSA rollout. With rising workloads, digitizing SFAs offers schools a way to better manage the rising demands on their teams.

Failure to comply with financial agreements can lead to costly penalties for schools. Ensuring financial agreement compliance is essential as regulations tighten. Schools must ensure that all agreements are properly documented and easily accessible during audits. Digital SFAs provide a secure platform for capturing signatures, IP addresses, and timestamps, ensuring compliance with both institutional policies and legal standards.

  • Regularly Update Agreements for Accuracy: Use digital tools to update SFAs to reflect any changes in terms or conditions.
  • Track Signatures Automatically: Implement systems to track the signature status of SFAs. Integrating this process into the school's ERP system allows for accurate, up-to-date records of agreement completions.
  • Provide Anytime, Anywhere Access: Ensure students and staff can access SFAs anytime. Digital access enhances transparency and simplifies viewing, downloading, and printing agreements.
  • Automate Notifications and Updates: To reduce administrative burdens, universities can leverage digital tools that automatically update financial agreements and notify students when new terms are available. Automation not only streamlines the process but also ensures that no agreement is missed or delayed, safeguarding compliance and reducing operational costs.
  • Monitor and Report on Compliance Regularly: Regular monitoring and reporting on SFA compliance helps schools stay ahead of potential issues, ensuring the process is efficient and legally sound.

Effectively navigating SFAs and managing them digitally is essential for maintaining compliance and ensuring operational success in higher education. Digitizing these processes reduces administrative workloads, improves accuracy, and increases transparency, ultimately helping schools achieve their goals.

For higher education professionals looking to optimize and streamline their SFA processes, Transact offers a comprehensive digital solution that enhances compliance and improves efficiency. Request a demo today to see how digitizing your SFAs can transform your school's financial operations.