How do I go about withdrawing from school in this situation?

I just got accepted into an online college about 2 days ago, and my cles don't even start until October 4 so that's over a month from now. On the virtual campus they show what my estimated payments would be IF my loans get approved, nothing is promised yet. Now, even though I haven't accepted any loans yet, and I haven't taken one cl yet. Can I still withdraw from school without getting penalized? And if so, how would I write the withdrawal letter?