I’d like to know where this guy is. Because no one I have ever met has been eligible for being licensed simultaneously with graduating with an undergrad degree – I assume it’s undergrad because you’re screwed if you spent 5 years on an MS. Where I live, it’s 4 years of relevant work experience under a licensed PE plus a pass on the EIT just to be eligible to take the PE exam. Even if the requirement where he lives was 2 years, that’s pushing the limit of what is physically possible.
If he really does somehow almost have a license, there may be possibilities for online work. Every now and then someone wants something stamped. Still, if you have no liability insurance and you’re basically doing business as yourself, you had better know what it is you’re stamping because you’re sticking your neck way out there.
If he’s not actually close to being licensed, he will be hard pressed to employ himself. An unlicensed engineer is worthless on their own. He needs to work under a licensed engineer and that will require meeting face to face thus pretty much completely excluding work solely done online.
One potential option is to work as a CAD drafter or similar. That is work that can be done online, sometimes outsourced to independent contractors, and something you don’t have to be a licensed engineer to do. That’s not really making great use of the BSME though. In the long run it would be more efficient to seek immediately a job under a licensed PE and maintain a frugal lifestyle until the big bucks start rolling in.