(a) The memorial education loans provided for under Alaska Stat. § 14.43.25014.43.325 shall be administered by the executive director of the commission, subject to review by the commission and to those regulations the commission may prescribe to carry out the purposes of Alaska Stat. § 14.43.25014.43.325.

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(b) To the extent that they are not in conflict with the provisions of Alaska Stat. § 14.43.25014.43.325, the provisions of Alaska Stat. § 14.43.09114.43.160 relating to education loans are applicable to loans made under Alaska Stat. § 14.43.25014.43.325.