Can I cancel a student loan I just got?

[Anonymous]

 I would call my school but the aid office is closed. I took out a direct loan and validated by  classes today. But I fell into some unexpected cash and able to pay for it. Is it too late to cancel? 

[Anonymous]

Once you sign the Promissory note it is too late.  However, you can always pay off the loan right now and hopefully have minimal extra fees/interest.  Or if it is a subsidized loan, put the cash in a safe bank account and pay off the loan once you get out of school and in the meantime earn interest on your cash.

[Anonymous]

You can cancel your loan. You have to pay sum assured and interest till date and there would be some paper work of the bank which you have to accomplish.