I took a gap year and it was awesome. Basically, I just traveled around Europe, drank excessively and chatted up eastern European girls. I actually finished my primary and secondary applications while I was in Budapest, having lived there for over a month. If I remember correctly, there was a little bar/cafe in the Buda side of the river where I took my laptop to, typed up secondary essays and drank craft beer to the amusement of the Hungarian waitresses there. After a week, they didn't even bother asking me what I wanted and would just bring a pitcher of this Hungarian craft beer called "Chicago" out to me with a smile.
I lived in Portugal, walked the Camino de Santiago to Spain (I crossed a national border on foot, woot!), found temporary work in a hostel and was paid in free lodging/food/wine, tried to cross the Hungarian/Serbian border (the Migrant Crisis and posturing of Hungarian and Serbian armies along the border made it a pain), gave up and went to Romania, did some hiking/hitchhiking through Transylvania and then somehow ended up in Moldova.
I came back and got interviewed/accepted.
10/10, would do the gap year all over again.