You can return your unused Apple Care. According to terms and conditions for IUP:
Termination of your Installment Loan and Cancellation of AppleCare+. You understand that you have purchased AppleCare+ with funds borrowed from the Bank under an Installment Loan. If the Installment Loan is terminated, you must cancel AppleCare+ by contacting AppleCare at: (800) 275-2273. If you do not cancel AppleCare+ on your own, you agree that the Bank is permitted to cancel AppleCare+ on your behalf. In any such event, any refund due on your AppleCare+ will be remitted to the Bank as a payment toward any amount owed by you to the Bank. If the AppleCare+ refunded amount is greater than the amount owed on the Installment Loan, Bank will issue you a refund in the amount of the difference to the credit card you used to enroll in the iPhone Upgrade Program.
Return of AppleCare+. If you return AppleCare+ associated with your iPhone Upgrade Program, any refund due on your AppleCare+ will be remitted to the Bank as a payment toward any amount owed by you to the Bank. If the AppleCare+ refunded amount is greater than the amount owed on the Installment Loan, Bank will issue you a refund in the amount of the difference to the credit card you used to enroll in the iPhone Upgrade Program.