Opinion for the Court filed by Circuit Judge SENTELLE.
SENTELLE, Circuit Judge:
In this case, the Association of Accredited Cosmetology Schools ("AACS") challenges the constitutionality of the Student Loan Default Prevention Initiative Act, 20 U.S.C. § 1085(a) (1988 Supp. II), and the implementing regulations, 56 Fed.Reg. 33,332, 33,338 (1991) (to be codified at 34 C.F.R. § 668.15(f)-(i) (1992)). AACS also challenges the regulations under the Administrative...
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