Many student loans can be put on basically indefinite hold via income based repayment (if you make little enough, your minimum payment is zero, but the interest keeps accruing). This gives you some flexibility to take any job you can find, even something that doesn't require a degree.

You might also look into trades, depending on your engineering specialty. A machinist with a MechEng degree from MIT or a millwright with something related to manufacturing will be extremely valuable, especially if you're willing to move where the work is.