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.Mail: Send us a short letter stating that you'd like a payoff quote. Creating a payoff letter is essential to any loan or mortgage repayment process. Our free templates and this guide can help you get started. Filling out this form is straightforward. You need to have all the information. This includes the name and address of the lender as well as the borrower. The Direct PLUS Loan Form is available beginning in August of each academic year. The student can locate the form in the MyMC portal.