TADS has had some questions regarding the Federal Reserve Board Regulation Z (Truth in Lending). The National Association of Student Financial Aid Administrators has its opinion regarding application to the K-12 market which states:
“Schools that offer interest free tuition billing plans where the term of the transaction is not greater than one year – even if the credit is payable in more than four installments – are also excluded from the definition of private education lender.“
See http://www.nasfaa.org/publications/2009/rntila073109.html
For further discussions about Regulation Z with TADS, please contact Martin at info@tads.com and reference this comment.