Coming off of the BMQ doesn't necessarily mean releasing from the unit/Reserves entirely. We often have students who need to pull out of their course due to unexpected workload. If we have the positions available, and they are certain they can commit, we will sometimes hold them over to a summer course.
The priority is to have an open and honest conversation with your supervisor. The unit may direct you to take a voluntary release, or they may recommend a recourse in the summer. If you do take a voluntary release, there is no shame in it, and there is no major impact - you can even join again in the future when things are more stable in your life. They'll ask you a few more questions, but I've seen it often enough and know that people can get back in. If you fade away and don't show up, or answers phone calls, etc., they will release you on less favourable grounds. It still won't ruin your future, but if you were ever to try for a government job, or Police, or anything that could require a background check, it may be an issue.
Your education is your career, your future, don't lose that. The Reserves will be here for a long time to come.