Financial aid can help you to repay your loan. However, if you do not want it after you get it, you need to cancel it. You may have new job that can cover your tuition fee or you get other scholarship. Deciding to withdraw from this semester or move to other school can also be the reason of cancelling financial aid.
The first thing that you need to do is gathering all documents related to financial aid that you have received. Write all information about it including the name of the grant and the date when you get it. Next, call financial aid office in your campus and ask for cancellation form. They may give you online form but some of them may ask you to come to the office. You should check which aid that you want to cancel among all aids that you have. You should be careful because you may want to keep some of scholarship than cancel all of them.
Submit it to the office and contact them whether they accept it or not. Each college has their own rule related to the cancellation; hence, ask them if you need to prepare other document to complete it. Moreover, some lenders may ask you to return the refund so ask them about it.