Hmmm, you've got applications out AND another year of school? What message are you sending to the HR staff of each airline where you've applied?
I don't think that it's disqualifying by any stretch, but understand airlines interview and hire based on current needs - not projected needs. If you're not ready to go to work, don't send out applications. Simple as that.
Don't sweat it though, when you're ready I'm sure you can find an airline that is hiring. Save this as a TMAAT story for sure!