Incoming Bank Quant intern thinking of deferring graduation

Have a quant internship lined up at a large bank starting July 2026 after finishing my MSc this year.

Over the past ~4 months I’ve had severe sleep disruption/stress due to grief, medication changes, and academic pressure, leading to insomnia/burnout/anxiety around sustaining work and previous health issues. I’ve managed to keep going, but my functioning has become unstable enough that I’m seriously considering deferring completion of my degree to next year on mitigating circumstances grounds.

My exams finish mid-June, but because I already have a dissertation extension, I’d then need to finish a large portion of my dissertation between exams and internship start. Realistically I’m not sure I can do that in my current state without things deteriorating further.

The complication is that the internship requirements specify for students graduating this year, although I already hold the offer and passed the interview process.

I’m seriously considering deferring completion of my degree (exams and diss most likely) to next year on mitigating circumstances grounds.

Mainly trying to understand the logistics from people familiar with quant/finance recruiting:

• Has anyone dealt with deferring graduation after securing an internship?
• How flexible are firms once you already hold the offer?
• Could this affect return offer/conversion timing?
• Is a one-year deferment ever handled administratively if the firm wants to retain the candidate?

Less looking for emotional advice and more for practical insight into how firms/HR usually handle this.

Thanks.