Why not combine b and c?
If you actually reside in the South, there are absolutely loads of small operators (pleasure trips/aerial photos/flying clubs etc) who are about to start their busy season (mostly VFR ops) and will be looking for seasonal help.
Ask around and get in there while you can. Probably crap money, but you could make some potentially useful contacts, put some dosh in the bank and get in a load of work before the academic season kicks off again for the Masters. Once back at Uni, the work should start to die down a little towards the end of the year, but it may have led to something which you might be able to continue whilst completeing your studies.
In the meantime, apply for a (don't ask, don't get and you never know), and if unsuccessful, at least you are getting some experience in the aviation community for later if that is still what you want to do.
Why limit your options when you can do all 3? Just don't try to do a self-funded ATPL right now - wait and see how things pan out.