But for borrowers who move overseas, the Student Loans Company has to collect repayments directly from the borrower.
Once he or she is earning more than that, the employer will collect repayments of 9% of the amount exceeding £15,000.
Payday lenders typically collect repayments using continuous payment authorities (CPAs), agreements which give the lender an indefinite mandate to take money from a borrower's credit or debit card and to alter the amount deducted.
The rules, to come into force in July, will limit the number of times a loan can be rolled over to two, and will also prevent lenders making serial attempts to collect repayments from borrowers' bank accounts.
Under the new regime, lenders will be banned from allowing borrowers to roll over loans more than twice, and have limits to how many times they can try to collect repayments from customers' bank accounts.
A spokesman for HSBC said: "We have seen an increase in this type of fraud from Wonga, which we think is largely because they allow customers to receive their loan into a different account to the one they have designated to collect repayments from.
The FCA has already outlined new restrictions on payday lenders, set to come into force in July, which will limit the number of times loans can be rolled over and how often firms can unsuccessfully attempt to collect repayments from borrowers' bank accounts.
the need for some lending businesses to pay agents who visit customers' homes to make loans and collect repayments.
If other alternative lenders want to avoid doing the same they'll need to stop treating big data like a crystal ball and start getting those creative minds to work on ways to collect repayments that don't involve a subsidiary of Dewey, Cheatem & Howe.
Zidisha does not use local partners or loan officers to collect repayments.
But few knew at the time that even as pay-you-later notes kept going out, state agencies were also doling out millions of dollars in interest-free loans in the form of salary and travel advances to employees without collecting repayment.
