A student loan payoff letter, also called a payoff statement or loan verification letter, outlines your loan's essential details. Your MOHELA online account is the quickest and easiest way to get your payoff amount and submit your payment.A 10 day payoff is crucial to getting your old loans paid off during a refinance. Learn how it works from start to finish. 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. A student loan payoff letter details the specifics of your student loan, including the amount you owe, your monthly payments, and the payoff amount. To locate loan payoff information in your online account, you will need to login then click on "Loan Details" in the navigation. Every Student Loan Borrower In New York Has The Right To: 1. Every Student Loan Borrower In New York Has The Right To: 1.