To wait patiently for the right job or to jump into a job temporarily?

Short answer: No

Long answer: I've been through that phase too. When I graduated, it took me about half a year to find a job, and the job is still a 1 year contract job, not permanent.

Yet I was clear on what I wanted so I do not want to hastily accept a job knowing that I'll not be happy there.

BUT in the midst of finding a job, I also took up short term part time jobs to earn some money and not be so bored at home. More importantly, it keeps your brain invigorated, which makes job finding a little more tolerable.

It was not easy, but all you have to do is push and and continue finding. One day it will reach you.

Why will you waste time hopping into a job KNOWING that you will resign and have to waste even more time searching and interviewing for the right job afterwards?

I feel that you shouldn't just jump into a full-time job temporarily as the first job is the most important. Most important in the sense that it might give you false impressions of the industry just because you went into a bad company or worked under a bad boss. Without a right mentor/boss, your basics foundations might even become weaker as you progress further with your career.

However, if you do need the money after graduation to clear off the horrible student loans, you might consider taking up part-time or internship roles to tide over this period while you search for a more suitable job. Who knows, you might be offered a full-time position while doing so.​​​