Typical handles are designed to fit on splines on the shaft so that they have a sturdy, long-lasting hold to the shaft and not slip on the shaft when rotating it. To keep the handle from pulling off, one common way is to then use a screw into the end of the shaft, through the handle, locking it onto the shaft.
Cutting things off often would mean cutting off the threaded hole in the end of the shaft AND the splines, so a typical handle could not be attached. As these things age, they can be hard to get started to turn...setscrews, may not have enough strength in the typically thin handle to hold without splitting it, and there'd be nothing to hold it in place from being pulled off. If you had some metal working tools, you could fabricate something, but it would take a lot of skill to make it look good and function. You're probably stuck with what you have. You may be able to find a long bell-shaped eschution (sp?) to hid the shaft, but the handle would still be sticking out at the end.