Can't find a decent ohio payoff? Consider FormsPal's database!A student loan payoff letter, also called a payoff statement or loan verification letter, outlines your loan's essential details. The Vehicle Payoff Sample Letter form is a crucial document for individuals aiming to transfer their vehicle loan to the State Department Federal Credit Union. Loan payoff statements tell borrowers how much they must pay to close out a loan. Due to interest, etc. 504. Payoff of first mortgage loan. 103. Settlement charges to borrower (line 1400). 403. 108. Assessments. 408. The problem was, his last statement balance wasn't the actual balance due on his loan payoff date. In certain cases, you can have your federal student loan forgiven, canceled, or discharged.