Accepting a return internship offer while applying to grad school

<p>Hello everyone, </p>

<p>I am in the process of applying to a few Masters programs in my major and I have a return internship offer that was converted from a full-time offer when I told the company that I was planning on applying to grad school. However, I have not received any decisions yet and do not plan on having any decisions until March. I did update my recruiter on my status (and of course, she hasn't replied yet because they are busy with recruiting). My internship offer expires soon (before the Thanksgiving holiday) ... should I sign the letter and send it to them, or do I ask for an extension until March? I don't want to come across as uninterested by holding out for so long, but at this time I still am not sure where or if I will end up in grad school - the whole admissions factor is out of my hands. I just don't want to end up empty handed for the next academic year.</p>

<p>Thanks!</p>