Each repayment is given to HM Revenue and Customs HMRCC), which passes the money on to the Student Loans Company SLCC).
Individuals often are given a grace period of 60 or 90 days to arrange plan-loan repayment after leaving work.
Chances are that homeowners will have other debt accruing at less advantageous rates whose repayment should be given precedence, and a rate in the low single digits is a small price to pay to have spare cash around during uncertain times.
Yet, British and African campaign groups, including Global Justice Now, released a report this month which found that, in 2015, much more money was taken out of Africa in the form of illegal extraction of natural resources, tax avoidance and spiralling interest on debt repayments than was "given" to the continent in the form of aid and grants.
Repayment of such funding is given a top priority in the Title II receivership process.
But the bad news, as the International Monetary Fund points out, is that even with the lower interest rates and longer repayment periods that Greece has been given, it still has too much debt, too little growth and too fragile a private sector to be able to say that it won't need more help for long.
The $1-million golf course loan given in 2011 and originally scheduled to begin repayment in January 2014 has now been given a two-year reprieve by the city council to 2016.
With Wonga and other payday loans a debit card is given for repayments, and the borrower grants the lender continuous payment authority, which allows them to take payments at any time during the month.
Medical services suffered from the austerity program of the 1980s, when priority was given to the repayment of foreign debts.
The council is seeking the repayment of a £10.25m loan, which was given to the club to redevelop Sixfields Stadium, including a new East Stand, which has not been completed.
