A student loan payoff letter, also called a payoff statement or loan verification letter, outlines your loan's essential details. Private Student Loan Payments template.You're saying: "I am submitting more money than what I owe; here is how I want the payment processed. To get your payoff information in your online account, log in and select Loan Details in the sidebar navigation. 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.