Student First Technologies completes second SOC 2 Type II audit

Student First Technologies said it has passed a second SOC 2 Type II audit, adding another independent check on the security and privacy controls behind its education funding platforms. The Bloomington, Indiana company says the result gives state agencies, scholarship groups, schools and families more confidence as education choice programs expand and a federal tax credit scholarship program is expected in 2027.

Why it matters: - Student First Technologies’ second SOC 2 Type II report gives external confirmation that its security controls worked over an extended period, not just at a single point in time. - The audit matters for state agencies, scholarship organizations, nonprofit partners, schools and families that rely on the company to handle financial and personal data. - The result also supports SFT’s push into expanding education choice programs and the anticipated federal tax credit scholarship market in 2027.

What happened: - Student First Technologies said it completed its second SOC 2 Type II audit. - The company’s first SOC 2 Type II milestone came in June 2025. - The announcement was made Oct. 6, 2026, from Bloomington, Indiana. - CEO Forrest Fowler said the second independent report shows SFT’s security, privacy and operational controls continue to meet rigorous standards as the company grows.

The details: - SOC 2 is an AICPA framework that evaluates how organizations manage data across security, availability, processing integrity, confidentiality and privacy. - A SOC 2 Type II audit tests whether controls operate effectively over an extended monitoring period. - Aprio, an advisory and accounting firm, conducted the audit. - Aprio confirmed that SFT’s controls operated effectively throughout the audit period. - SFT says the audit provides additional assurance against unauthorized access, fraud and data breaches. - SFT says its tax credit scholarship platform operates under the same SOC 2 Type II standards as the company’s broader technology infrastructure. - The platform is used to manage scholarship funds and related data in a secure and compliant environment. - SFT’s modular platform, Theodore™, includes identity verification, high-volume direct and donation fund intake and management, digital wallets, integrated payments, the TheoPay™ smart debit card with real-time item-level purchase adjudication, real-time reporting and configurable program controls. - State agencies, scholarship organizations and prospective partners can request a copy of the attestation report by contacting compliance@studentfirsttech.com.

Between the lines: - The second audit signals that SFT is trying to prove durability, not just initial compliance, as its client base expands. - The timing suggests the company is positioning itself early for demand tied to the federal tax credit scholarship program expected in 2027. - Repeating the Type II result may help SFT compete for large public and nonprofit programs where data protection and operational controls are central buying criteria.

What's next: - SFT said it is increasing support for scholarship granting organizations preparing for the federal tax credit scholarship launch expected in 2027. - The company is likely to keep leaning on its compliance record as it courts new education choice partners. - Prospective partners can review the attestation report by requesting it from the company.**