I am applying to MFA programs over 10 years after I graduated from undergrad. I remember the anxiety that came with graduating, feeling like I didn't know what the hell I was going to do with myself. But grad school only delays that question, it doesn't answer it.
Honestly, it seemed to me that programs weren't at all interested in artists coming straight out of college. They want artists who have lived and made work and fucked up and tried different directions and know what they want from their work, and that only comes with time and living. One professor told me that it's only relatively recently that younger artists apply to or are accepted into MFA programs--that programs used to be almost exclusively filled with people in their early to mid 30s--and that he can't understand why people would go to school directly out of undergraduate, that he had gone to school at 25-26 and felt like even that was too young.
There's some great advice on this list about ways to handle your debt. And please, don't take this the wrong way, but you should just make your work out in the world for a few years. You'll bloom in ways you can't imagine, and you'll return to school with a profound sense of purpose. I promise.