How will I pay off my student debt? Based on a 10-year repayment plan: Monthly payment amount: "Monthly_Pymt".A student loan payoff letter, also called a payoff statement or loan verification letter, outlines your loan's essential details. You can have your federal student loans forgiven, canceled, or discharged. Please see the following link for more information and required forms. To get your payoff information in your online account, log in and select Loan Details in the sidebar navigation. The first step is to get in touch with your lender or loan servicer. You can find their contact information on your monthly statements. A student loan payoff letter can make it easier to pay off your loan. Learn what a student loan payoff letter is and why it's important.