After the three parties sign, if you follow the procedure, your file will be ready. At that time, the Education Bureau may threaten you to bring files to work or pay liquidated damages. You need to discuss this matter with the school, find your counselor, find the teachers and departments in charge of employment in the college and the school, and see if there is any way not to send it to the school first. However, I am afraid that the Education Bureau will take responsibility for the school, and the general teachers will still follow the procedures.
As for the file problem, I think it is more important, because it doesn't mean that you don't need files when you go to work in an enterprise. There are many proofs of your childhood in your file. Once you lose it, you may need these things for social security or length of service in the future, not to mention that files are more important if you want to enter institutions or some good places. There is a saying that if an enterprise finds that your original file is gone, or some units that don't care about files want to provide you with social security services, it can build you a new file. This is ok, but it means that your previous education and other certificates are gone or still exist elsewhere. Maybe your simple work document will be useless when you want to do other things in the future. China's system is still very authentic, so it's best not to make more trouble.
If you have a good place to go, or you are determined not to go to the Education Bureau, then to be honest, this is not a problem that can be solved with money. He even said that he can pay a part of the deposit first to ensure that he will take good care of your file and not lose it, as long as it doesn't embarrass you.