You can simply opt out of PEP and return to home education with your district.
You can decide year to year whether you want to take the PEP scholarship or not.
If you decide mid-school-year that you want to switch, you should be able to do that, too. (Of course, any remaining funds in your account would be cut off and returned to the scholarship funding organization.) If you want to know more details about the logistics of how that process would work, we suggest asking your scholarship funding organization (Step Up or AAA) directly.