You have some serious loans to repay, right? The most sensible thing to do is accept #4 and defer for a year. Additionally, I'd make a very tight budget with the help of a friend I trust to keep my best interests in mind, and live the most frugal year of my life.
After this frugal year, I'd have knocked off a considerable chunk of my debt (and therefore lowered my stress levels). Then I'd find myself making the best use of the resources ($ and time) I had available, and start graduate studies with little stress, knowing I made the most responsible decisions I was able to make with what was available to me at the time while still going after my dreams.
You're still living according to your priorities and taking risks with your life, but you're reducing the risks and stress as best you can (which makes for a more pleasant and productive grad experience).