Value of Education
However, I would not tell an engineering student there is more value to work than school because the graduate education is different in various fields.
Even in many MFA programs, graduate school courses in writing and communications are theory-driven, as opposed to practice-driven. Honestly, I don't know that theory has made me a better writer. If anything, I find myself slipping into an "academic" language and style that is inappropriate for most audiences.
If you want to be a scholar of writing, then graduate school might be ideal. If you want to be a writer, it isn't where you'll do the most learning.
The grand exception is if you want to teach others about writing. Teaching at the college level requires the degree, unless you're a published author asked to be a visiting lecturer or resident author at a university.
The only reason I completed graduate school was a desire to teach. I am only a scholar tangentially to practicing the craft of writing. As it stands, I probably learned far more writing for general publication than writing academic papers.