Freedom away from parents and guardians for students in higher institutions could have effects on their sexual decisions and behaviours, which when not guided could portend devastating consequences. Such a decision could lead to indulging in transactional sex (TS), a kind of sexual relationship that is adopted in exchange for material and non-material benefits. In this study, we underscored why female students are involved in TS in some Nigerian universities and offer potential remedies that could mitigate or prevent associated negative consequences. The study relied on a qualitative research methodology, adopting in-depth interviews to source data from 40 female students across 5 universities in southeastern Nigeria. Data were analysed in thematic categories that reflected the research questions. Family pressure/parental disconnectedness, gender, peer influence, poor economic background, greed, etc., influenced TS involvement. We also identified some psychosocial and health risks associated with TS.</p