No you will have to wait until the end of your contract or pay for the balance of it.
Thank you for your inquiry. Adding to what was stated, because of being under a customer agreement in receiving a discount for new equipment, you would not be eligible to move over to a pre paid until you have fulfilled the agreement when you activated the phone. However, if you have completed your customer agreement, you can switch over to Pre Paid. This can be done in one of our stores or online at Verizon Wireless. You might need to change phones depending on the type of phone you have now to make sure it would work under a Pre Pay account. If the line your wanting to switch over to Pre Pay so happens to be the primary line on a family share account, you would have to do a plan change. This will allow the secondary line to be changed over to a single rate plan if that line is still under a customer agreement.
For more information on Pre Pay, please use this link: http://www.verizonwireless.com/b2c/splash/prepay.jsp