No...the bike is still new, never ridden. They may not give you a refund if all sales are final, but they should have no problem with an exchange for something you like more. Even if its less money, they want you to spend more money there in the future as a return customer.
You're in college so you are young and you should not have a problem with road bike geometry and drop bars. Get yourself a road bike if that's what you want. But converting this bike to a road bike is bad advice. You would have to by STI shifters, probably a short cage derailleur and new cranks. You would lose out on that deal for sure. Does it even have a road wheelset? You might have to replace that too.