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. If you are paying off a specific loan or set of loans online, use the "Custom Pay" dropdown to select "Specify for Each Loan". All forms are accessed and completed using Adobe Reader.