By the end of your semester I expect you'll have done most of the local area and will have some others who want to travel with you so you can do the backpacking thing for as long as you have money. Even if you're alone, go do it, you'll meet people in the hostels who you can travel with and have a great time just seeing things.
Even if it means you put your life on hold for awhile, just go and travel. Working and "getting a life" will always be there for you when you get back, having the opportunity to travel around for an undetermined amount of time won't be.
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