Can I invest the money from my stafford loans?

I recently got my finacle aid information in and found that the cost of my tuition and fee's and books will be pretty much be paid for by grants and stipends(I'm going to a cheap state school) however I am also offered 3,500 a year in susibized stafford loans. From what I've seen, there is no pentatly in paying off these loans early, so I wondered if anyone knows if this money is allowed to be

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