B737 Captain reported First Officer student on their first flight lost directional control of the aircraft during landing resulting in a runway excursion.

Narrative

We departed ZZZ on Day 0 destination ZZZ2; I flew the first leg as instructor pilot. On Day 1 the IOE student flew the leg from ZZZ to ZZZ1. During the landing roll out we experienced a runway excursion while landing on runway XX L. I assumed aircraft control but was unable to prevent the runway excursion due to insufficient remaining distance from the runway centerline. During the event we did not notice any abnormalities to include the impact of runway edge lights or; any impact to the aircraft. We departed ZZZ1 destination ZZZ where the aircraft was turned over to maintenance. Cause: Despite the fact that I took control of the aircraft; the inability to properly maintain directional control contributed to the excursion event.Disbelief. I tried to mitigate veering off the paved surface; I'm still trying to process the whole event; ultimately it's my responsibility and I take full responsibility leading up to this event.Suggestions: Be more vigilant dealing with IOE students especially on the first flight; always be on guard to take the flight controls in a timely manner. The fact that the operations are mostly at night and not everyone easily adjust to such drastic schedule change; make sure the IOE student is engaged and alert to mitigate the risk of this kind of event in the future.