[§304A-2160]  State higher education loan
fund.  There is established a special fund to be known as the state higher
education loan fund.  The fund shall be a revolving fund and all interest and
payments received on account of principal shall be credited to the fund.  The
fund shall be administered by the board of regents and shall be disbursed to
needy students that meet eligibility requirements under section [304A-601]
pursuant to rules adopted by the board. [L 2006, c 75, pt of §2]