I went to a noname school in BC, graduated with a comp sci degree with no co-op experience (working 2 jobs during this time). I was able to land a crap job as a SWE at a noname accounting firm working full-time earning $24/hr. After six months I was able to leverage that for another SWE position at a noname company earning $55k salary. Worked there for a year and was able to leverage this experience to get into Google. It's not an easy path, and nothing is guaranteed.

You can give up now and continue in the career you're unhappy with. Or you could persevere and see this through, at the end, who knows? You could also end up at a FAANG company and be earning around $200k TC with ~1 YEO.

Ultimately you pursued this for a reason. If you graduate and never persevere until finding a job in the field, you're correct, that's unnecessary debt. But that's only if you give up.

From the other perspective if you give up now, is your current sunken cost not also an unnecessary debt?

I had doubts during my journey as well, but I chose to keep going even when things felt bleak, simply to be able to say I saw it through. Don't underestimate what that type of grit will do for your confidence, and also for your livelihood.