"Simply put, you defer (or are deferred mandatorily), you're out, unless the economy comes back. One said, and I quote verbatim, 'You should tell your friends that if a firm defers them they should presume they need a new job.'"
almost every firm is deferring your comments make no sense...
OP, they aren't making you do the public interest route? So lucky. If mine had given me that option, Id be at NYU next year as well.