Should I apply this cycle??

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Just graduated and looking for advice. Ivy undergrad, engineering major.

cGPA: 3.35 - strong upward trend (like 3.0 frosh/soph, 3.6 jr, 3.8 senior)
sGPA: 3.17
MCAT 34R (11PS 14VR 09BS)

ECs:
2.5 years clinical research (600 hrs)
clinical volunteering (50+ hrs)
shadowed several MDs (50+ hrs)
president of social frat
lot of other volunteering (big buddies, free clinics etc) and leadership (clubs)

Basically I'm wondering if it's worth it to apply early (this week) and broadly this cycle, or if I should complete a year of post-bacc first? My parents want me to wait for another year of grades, but if my chance at an MD this cycle is >20%, I'd take that chance. Otherwise, I'd rather save my money for next year. Opinions? School suggestions? Right now I'm planning on Albany, Drexel, EVMS, VCU/MCV, Toledo, UCincy, Penn State, Hofstra.

Thanks all.

I'd say your chance is >20%, but probably <50% of getting an allo acceptance. It can't hurt to give it a shot now and apply, but also do a post-bacc or something concurrently, so that you can raise your grades in case you need to be reapply, which there is a good chance you will.
 
You're below the 10th percentile in cGPA and sGPA at many of those schools (if not all). I would suggest you pump your GPA with post-bacc work for a year and have stronger volunteering/shadowing than 50 hours before you apply.
 
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