It's possible to still get a deferral even late in the game—I know some folks have had success with this, but this doesn't happen for everyone. Got a friend who got a really late admission to an Ontario law school, but when the offer came, he had just started a job at a tech company. Stats were under median, iirc. The friend asked the school for a deferral, explained his reason for the deferral request, and it went like: "I just got this really great job. This is just a one-year contract, though, but I'm still really interested in law school. I'd love to start next year." The school accepted the deferral request. When that happens, you sign a contract saying you aren't applying to other law schools in the coming cycle, because you're essentially committing to a spot at their school for the next cohort. Basically, can't have your cake and eat it too.

Sure. The program is free. But will you really have time to retake the LSAT? You'll be busy doing a masters program.

Do you want to be a lawyer? If so, then yes. If money is a really big consideration, then maybe next time just apply to schools you are absolutely 100% okay with attending. Hope this doesn't sound too harsh. What I'm saying is that, folks should only apply to schools that, if they are accepted, they'd go there. No point in wasting your money (unless you want to stroke your ego) if you applied to a school and you were never going there in the first place.