No whats amazing is that it took you an hour to come up with some hackneyed butt-frustrated reply that addresses none of the points and instead goes off on another tangent. But, for the sake of a complete #rekt, lets follow this shit-caboose of a train of thought you seem to have boarded.

He can't get a high paying job in his field because he's stuck paying high interest rates on his loan, forcing him to be busy with a more menial job. Even if he wasn't too busy, he doesn't have the capital to withstand the drawdown of the better strategic move, which is to wait for a opportunity more useful for his educational level.

Also, while you were laughing about how obviously dumb I was in the face of your superior econ knowledge, you typed the exact thing I qualified when I mentioned adding to the pie instead of taking from a set pie. You are a lump of labor fallacy luddite, the filthiest of faux-econ pHds. No, no financial risk to getting a masters degree won't cause us to have a glut of liberal arts majors.

I also have no idea why you bought up nationalized oil, as if getting your funding from selling oil has any impact on whether its a economic multiplier to incentivize education.

I am curious as to what the model of the world that your brain built looks like, because I can't find a reason why you'd think any rational person (remember, by your sacred model, most people can be assumed to be rational, at least at scale) would say "oh boy, student loans are 2.5% interest rate now, even though I'm still holding the liability, I now feel confident enough to get a underwater basketweaving degree". People will pick what they think will make them money, outside of the white privilege hugbox you've built around yourself, in the real world, people endure going to hour long lectures at 8 am because they actually want to earn money, and will pick their major based on that, since they are taking a loan and not having daddy pay the bills.