[fourtens]

I want to point out that the experience of most of the commenters is in the software engineering field. The situation for co-ops in other programs, such as chemical engineering, is VASTLY different. If you look at the hiring rates there, it's rather abysmal. Talk to any of the chem eng, nano eng, or even some mech eng and you'll find that a whole bunch of them are doing unpaid volunteer positions to get their co-op hours, or working low paying, menial menial jobs - especially for the first few co-ops. It is by far NOT the same experience as software engineers have it.

Also, it's very very common for chem engs (hah, I guess you have figure it out, I'm a chem eng from waterloo) to graduate with significant debt. My first co-op paid 6k as I worked for a professor, my second paid 18$ an hour, third was 15$ an hour, 4th was 22$ an hour, then I got into oil and was paid around 33$ an hour for the last two co-ops. I think I got really lucky - I know many people who just took a term off because they couldn't find a job - and they were sociable and had pretty good marks!

just believe me. It's different in other programs.