Shall I Apply Now?

I'm currently an undergrad entering my final year. I have had some medical problems and therefore deferred my final year (September 2011 - July 2012) and now graduate in July 2013. The medical problems will mostly over by the end of September (2012) but one of them will continue until December 2012 (its not a visible problem so I guess I should be fine).

I am also not really sure what division to apply to anymore. I'm still trying to decide between going back to IBD, trying ER or doing something completely different. Because of the time the medical problems have taken up, I am out of touch with the financial news/out of practice for interviews etc.

My careers advisor said to focus on my degree, try and get top grades, then apply for off-cycle/summer internships once I graduate (and have thought about what I actually want to do with my life) but this is risky. I am in London and they tend to hire a year in advance (i.e. if you do a summer internship in 2012 and then get the offer you don't start until 2013). They said that because banks wont interview you again if you are interviewed (assuming you fail it and don't get the offer) its better off I don't apply if I'm not ready and committed to a division.

I'm 22 at the moment, and will be 23 when I graduate (because of the extra year I have taken off). If I don't get a summer internship until 2014, I'll be 25 before I start full-time work! 26 if I complete a one year Masters and 27 if I complete a 2 year masters... :(

I could apply for a Masters but I can't afford it (most are £20k ish) and loans are not an option.

Any advice?