Hey. I completely understand you situation. I was active duty military as well. I came back from Iraq in June 2007 and started my undergrad immediately 2 months later. Looking back, I wish I had given myself some time in between to unwind. While you may not be coming home from deployment, taking some time after active duty will really help your mental stability through the next few years of school. You shouldn't have to worry about going back home to live with your parents because you are eligible for unemployment (which is A LOT of
money) so I'm sure you can rent a place.
Personally I do not like regrets, so if I were thinking about applying like you, I would just do it to see if I get in. (if anything, it is great practice for the fall!) And if you don't get it, don't sweat. Just do it again in the fall!
I received my acceptance into the MPA program at SIPA yesterday so i am extremely happy. Still waiting in Wagner and USC. I know both SIPA and USC have extremely good veteran networks, while this shouldn't be a deciding factor, it's a fun fact
Good luck to you and I hope everything works out the way you want it to!