Yes it can be fixed. Is it worth fixing is another story. This will depend on which 300mm zoom it is. If it is the 70-300mm IS then it very well may be worth fixing. If it is the 70-300 non IS or the 75-300 then probably not as these lenses are under $200 brand new. Call Canon and ask them what they think.
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i sympathize with your sadness… those lenses are expensive, and they are very delicate items… if i am not mistake, Canon lenses are made in Japan.
now, if you still have that warranty, it would be nice to ask help from the store you purchased it. but since it is possibke that the item was made in japan, they might send it back there for repair.
but since “you” dropped the camera, it may void the warranty for the case of “misuse”. check out the possibilites – hope your good with making an alibi.
if you are going to pay for it, ask for a quote – cost of repair. see if buying a new lens is cheaper or the repair is. but again, they might send it overseas and might cost more…
good luck shutter bug!