A payoff statement is a document from your current student loan servicer(s) that tells us how much we need to pay them in order to pay off your student loan with your current lender. This is different from the monthly statement you receive, as it considers future dated interest you may owe and is typically generated when the borrower requests it from the servicer either online or over the phone. Each student loan servicer has its own process for generating payoff statements and providing them to borrowers. Once you begin your application, a Payoff Statement Guide can be accessed within the dashboard that provides more information about payoff statements and how you can obtain one from your current lender(s).