I would say that even if you don't get in anywhere this application season, definitely don't give up and apply again next year. This way you will have completed a degree and you will be applying with a full completed graduate transcript. Furthermore, try extremely hard in the courses you still have left to complete (not sure if you have any in the summer as well). Maybe take extra courses and graduate in Fall. Its kind of hard for me to say because I don't know the specifics of your grad program. Also work your ass of on the thesis. Remember, if you get any awards in your grad program, that will take you far. A lot of people say that awards don't matter as much. They do. Especially in cases where you have to make up for some worse part of an application, like a spotty transcript. Another benefit of applying next year is that you will have the time to study your a$$ off for the GRE. I don't know what your score is, but if you think you are capable of getting a better score by studying some more, do it. Schools appreciate trends in GRE scores as well. It shows the student is trying and improving. ON the other hand, if you're not confident of a higher score, then don't do it. There is always the risk of getting a worse score than you already have and the downward trend can work against you as well. However, what some schools do it that they consider you highest in each section if you submit multiple scores. So if you get like a 162/162/5.0 on first and then like a 168/160/5.0, they will take that increase to 168 in the second score.