I'm thinking about applying for a master's degree at Oxford when the next application cycle starts. I'm at the end of my second year, not sure what my final grade will be, but unless something goes wrong, it'll be a 1st. However, my first-year grades are a bit lower, I got a 65, which, although not a bad grade, falls below Oxford's entry requirements (67 for my course). Although my first-year mark doesn't count towards my final degree, it doesn't exactly give my academic record a good look. Am I better off waiting until after my 3rd year to apply when I have all my grades, or should I risk it now?