A student loan payoff letter, also called a payoff statement or loan verification letter, outlines your loan's essential details. Complete your Annual Student Loan Acknowledgment to learn about your student aid options and federal student loan repayment obligations.PHEAA's NEW Student Loan Notification tool offers a great solution through our comprehensive and secure portal. 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. Student Loan Debt Relief. The Supreme Court issued a decision blocking us from moving forward with our one-time student debt relief plan. If you aren't enrolled in our auto debit program, we encourage you to sign up for the easiest, most convenient way to make your payments! The interest rate, and your ability to receive private student loans, can depend on your credit record.