<p>You're in school longer, but it doesn't necessarily cost more, since you only pay for the semesters in which you take classes. Most co-ops graduate in 9 semesters (as opposed to 8) because they take two summer semesters (you take less courses in the summer than in the Fall or Spring because it's shorter). However, the summer semesters are cheaper.</p>
<p>With regards to value: Almost every student does a co-ops or internships in engineering. As a recruiter, I wouldn't even interview a full time hire without 2 semesters of co-op/internship experience (or 1 really good experience), even with a 4.0 GPA. To me, and every recruiter I ever worked with, it's a requirement for a full-time engineering hire (now if your son's goal is academia, that's a different situation). </p>
<p>But your son doesn't have to co-op, he can also intern (and companies view them to be equivalent - good experience is good experience). A co-op is a 4-5 year commitment with the same company, while an internship is a 1 semester commitment. They're actually very similar: interns that do a good job are frequently asked to come back, and co-ops that do a bad job can be asked to not return. At Georgia Tech, you're also allowed to switch from co-op to intern (you basically drop out of the co-op program) but you can't go the other way. You can start interning at any time, but must start co-oping (at least join the program) in your freshman year.</p>
<p>There are advantages and disadvantages of both. Pros of Co-oping: freshman have a hard time finding internships, but co-ops are easier to find; co-ops have more stability (you know where you're going every semester); you will probably get to stay in the same location, so knowing the area, finding an apartment, etc. is easier; and you get a note on your diploma (which is so small it's nearly impossible to read). Pro's of internships: you interview every year, so your skills stay fresh; you can move from company to company and industry to industry (which helps in identifying what you want to do and broadens your job market appeal); and you can choose to only intern in summers, which doesn't delay graduation (biggest advantage).</p>
<p>My advice to new freshman at Georgia Tech: shoot for 3 internships / co-ops at a minimum. I would start-off freshman year in the co-op program (register in August/September - interviews start in October!) for a Summer 2010 co-op. Work hard to get a good reference. If your GPA is above 3.0, drop out of the co-op program in Fall 2010, and interview (again, in October) for internships in Summer 2011. Again, get a good reference, and interview (in October) for Summer 2012. Then graduate in May 2013 in 4 years with 3 internship experiences. As long as your GPA is above 3.0 - 3.2, you'll be in an excellent position for a full-time hire.</p>