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I took the LSAT in June and got a 162. My GPA is a 3.1. I haven't studied at all since June. The last couple of weeks I began thinking of doing grad school instead or studying more and taking it next year and raising my GPA However I've decided that I want to apply now for Fall 2012. If I take the Dec. LSAT will I be to late, I know technically it's not but most people have sent in apps by then and b/c of the low GPA I might be at a disadvantage. Or should I sign up for October?

You have a month until October. My recommendation is to study and take December, and if your cycle isn't up to snuff, apply next year.