Student Finance Cancelling

Hey. I have applied for a maintenance loan, and also for scholarships and bursaries at my university. Some of the scholarships are huge (we're talking a fabulous £20k a year). The bursaries are also great. If I do receive these, I'll know by late August apparently. However if I do receive this generous funding, I won't need to use my student finance loans anymore.
Is it possible to cancel my student finance application in late August before starting at the uni in Sept if this did happen? Would they ask for a reason also, since I would still be attending uni that sound year but cancelling student finance?