Create a Loan Payoff Letter online and download it as a PDF or Word document. Customize and print a blank Loan Payoff Letter for free.Creating a payoff letter is essential to any loan or mortgage repayment process. Our free templates and this guide can help you get started. A student loan payoff letter, also called a payoff statement or loan verification letter, outlines your loan's essential details. Commissioner Mathre asked if the second School Board recommendation should be asked to complete an application form. "Steve said you'd be smart to send out a letter asking other people to get involved," Lewis recalled. Of the arrearage or a loan modification, for example), and these loans tend to transition to foreclosure.