A student loan payoff letter, also called a payoff statement or loan verification letter, outlines your loan's essential details. To get your payoff information in your online account, log in and select Loan Details in the sidebar navigation.The loan payoff statement includes your principal balance, any outstanding interest due, and potentially any prepayment penalty (if applicable). A 10 day payoff is crucial to getting your old loans paid off during a refinance. Learn how it works from start to finish. A student loan payoff letter details the specifics of your student loan, including the amount you owe, your monthly payments, and the payoff amount. A payoff statement is a document delineating the complete amount necessary to settle your student loan debt in full. Learn more about the many resources that can help you navigate your student loans. Find the repayment path that is right for you. How do I fill out the PSLF Form?