Creating a payoff letter is essential to any loan or mortgage repayment process. Our free templates and this guide can help you get started.A loan agreement is a legal document between a creditor who lends money to a borrower that is repaid with interest. A loan agreement is a formal written contract used whenever money is borrowed. A loan agreement is a legal document between a creditor who lends money to a borrower that is repaid with interest. â–¡ Student loan interest. â–¡ IRA contributions. After you receive your UT financial aid offer, follow this guide to make sure you complete all the necessary steps and are ready for Rocky Top! Pay Now is a feature where you can pay your Credit Card, Cash Reserve, Mortgage, or other loan accounts directly from the Accounts page.