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In response to
"The first photo says “this is not your payback amount” which makes me think it’s calculating based on a repayment rate. "
by
mafic
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It’s the current statement balance of the loan. The payoff amount would include any additional accrued interest since the most recent statement. -- (edited)
Posted by
znufrii
Dec 2 '21, 05:42
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If you get a payoff quote they will usually pad on a few extra days of interest to account for the time it takes to receive/process the payment, and then refund you any overpayment.
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