If a student plans to participate in a class that does Consulting for an outside company as part of the class, the following has to be considered:
As long as the Institute or the College is paid by the vendor for this work and as long as the student takes this class as part of coursework, the student can be reimbursed for incurred expenses under the accountable plan rule.
U.S. citizens and Green Card holders just need to submit a signed check request to Accounts Payable.
Resident Aliens for tax purposes need to submit a signed Form W-9, Nonresident Aliens for tax purposes have to submit Form W-8BEN (both can be downloaded from the FNIS website) along with the check request. However, note that International Students have to be on-campus work authorized in order to be reimbursed (F-1 and J-1s from the College or the Institute would be work authorized).
Accounts Payable needs to check with the ISSS or ISO to ensure that work authorization is in place.