A student loan payoff letter, also called a payoff statement or loan verification letter, outlines your loan's essential details. 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. 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. This is an example of a payoff letter used in a syndicated loan transaction. This payoff letter (including the defined terms such as Lenders,. Get your questions answered about Federal Student Aid at University of Phoenix. Learn about loans, grants, disbursements, credits balances and more.