Applying after graduation?

[560ray]

I'm an engineering undergrad who has some bad grades. I'm going to own up to my failure and say I've screwed up. I have failed classes and I will need to retake them to bring my GPA back up. I have failed several classes which brought my GPA down to sub 3.0 (I transferred from a CC and so my university GPA is frail).

 

If all goes to plan, I can graduate early summer 2014. However, this means I need to apply by January, and this means my GPA will be in the pits as my old failing grades are still pulling my GPA down. I can bring my GPA back up by the end of Spring semester but of course this means I will delay my application.

 

Should I wait until I finish my diploma and then apply for the Spring 2015? Or should I go ahead and apply by January?

 

On an another note, any comments on how graduate schools look at transcripts? My GPA might recover but my transcripts show troubled times.

 

Thanks for any help and guidance. I try to be realistic so you can be frank

Edited August 21, 2013 by 560ray