Microsoft 365 features that help users manage their subscriptions, account settings, and billing information.
Hi JG395,
Welcome to Microsoft Community.
Since this is a Microsoft 365 subscription, not a perpetual (one-time purchase) Office license, if you do not renew, Office will enter a reduced functionality mode from the expiration date. You will still retain your Office documents, but you won't be able to edit or print them through the applications; you can only view them.
You may consider using Office Online in your browser to continue editing and printing documents, as it is completely free. Office Online relies on the free OneDrive 5GB storage space. If the storage limit is exceeded, Office Online will also be unable to edit documents.
In summary, if you choose not to renew, you will not be able to retain the current version of Office and will only be able to view Office documents. Perhaps a perpetual Office license would better suit your needs, as it is a one-time purchase software.
I hope my clarification clarifies your question. If you have any other questions or want to share more context, please let me know in your reply!
Best Regards,
Thomas C - MSFT | Microsoft Community Support Specialist