Applying to grad school is not making a commitment. One still has two more years. At any time while in grad school, one can google starting salaries, and stop digging in deeper if the math doesn't work.
I wouldn’t underestimate the feeling of the sunken cost (especially after studying and taking the GRE, writing essays, getting recommendations from professors). For someone relatively young who isn’t aware of alternatives nor has prepared for alternatives, it’s not surprising they would keep going down the path feeling they have no better choice at that point, only a choice to imagine their future selves will work even harder to “make it”.
> especially after studying and taking the GRE, writing essays, getting recommendations from professors
Sorry, I have to laugh at the idea that taking the GRE, writing an essay, and getting recommendations is so onerous one feels compelled to take on $300,000 in debt due to the sunk cost fallacy.
It's still their choice, and therefore their responsibility. It's not society's responsibility to make up for their sunk cost fallacy.
Besides, one can always change majors or transfer to another school with better prospects. Lots of students do that.
P.S. Studying for the GREs is what one did the previous 4 years getting a Bachelor's. Nobody I knew studied for the GRE. You should know that stuff by then. The GREs I took didn't go past sophomore material.
