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OP says he's powerless in this situation so let's keep it that way unless his friend decides to ask for input ...

If OP's friend DOES decide to have a baby then I would try for a temporary adoption in his case instead of being there 24/7 at the child's side depending on how long he's going to school ...

OP throwing away his education would mean putting down his and the baby's life into a really dark path that could have no light at the end of the tunnel! A child is weak without any sort of funding but the same goes for anyone else so don't just sacrifice your earnings potential just yet when it could need the money to get your child into university ...