Okla. Stat. tit. 70, § 628.7

The sum of One Hundred Thousand Dollars ($100,000.00) of the appropriation made by the Legislature in House Bill No. 1124 of the lst Session of the 33rd Oklahoma Legislature shall be allocated to the Student Educational Assistance Fund provided for in Sections 1 and 2, Chapter 482, O.S.L. 1965, as amended by Section 1, Chapter 3, O.S.L. 1967 (70 O.S. Supp. 1970, Sections 622 and 623), and be utilized in carrying out the provisions of this act as amended, and the State Regents shall allocate, hold, maintain and administer funds so appropriated under the same regulations and procedures as are followed in administering the federally guaranteed Student Loan Program.