Living expenses have to come from somewhere. If you use the time to graduate faster, instead of working to generate weekly income, in some cases you can come out ahead overall. Details vary, but it's not obvious that it's a bad deal.
Someone pursuing a masters is much more likely to have a plan on how to turn that degree into better career progression or other opportunities. Especially a masters student who spent time in industry.
And honestly 5k loans to pay off 2-4 years later is about as good a loan debt as you're going to get. Paying off thst debt is more about having a career plan by that time than penny pinching for as low as loan value as possible.