I've cancelled one of my services here (and subsequently taken another) and had no problems with the process.
If you need it for only a month, then as soon as the purchase process has been completed, follow the cancellation process (available from within your control panel) indicating that you want the services cancelled at the end of the month.
Remember that this is an unmanaged service, so be sure to make a backup of your class work when you're done though, because I don't think you'll get any data afterwards.
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