The student's claim is incorrect because the reaction produced a gas that escaped the beaker.
In a combination of two liquids, it is possible that a chemical reaction occurs that results in the formation of a gas, and if this gas escapes the system, it would lead to an observed decrease in mass compared to the mass of the separate liquids. This does not contradict the law of conservation of mass, which states that matter cannot be created or destroyed; rather, it indicates that some of the mass has left the system as gas.