I think it is. Press the key before 1 (~ on American keyboards) on your keyboard (NOT the numpad), type "showracemenu", alter what you want and save with the console and menu still open. Save on another save to be safe. DON'T choose Accept or your character's skills and level will be reset.
At least that's how I think it was. Take note of your character's skills, stats, level, spells, etc, then try that, save on ANOTHER save file, and see if all is right. Keep the old save, just in case. Regardless, I think it may remove things like the Grey Prince's Training and things like that, for what they're worth.