It all depends on what your plans are in life. What do you want to achieve in the future? You are never too late to go to school or for that matter do anything you want to pursue. Consider life in a totality, and think of yourself as a writer writing down a story, your story. A life with a job you are hardly interested in will make a story of a boring and frustrated individual, a boring story!! An unconventional yet eventful life will make up a busy and engaging story when you look back at your past at 62. Don't bother about competition and how the guy or girl at the coffee room made it to harvard when he/she was still searching for rubber slippers to bit on........So go back to school and try to right everything you did wrong last time.............It's only when I see my 5 year old's face light up like a candle everytime I get her a 5 cent candy, do I feel like a old geyser!!
Your GPA is low, agreed. But maybe you shouldn't consider a masters program just yet. 26 is young. So build up your profile. Volunteer for social programs and community development. Take classes on subjects you think would catch the admission board's attention. Do well in them. Believe me, I am well into my 30s, but I still want to go back to school for a couple of years, no problem. So unless you have something planned against time, go on and take a couple of years more to build yourself up.