I too think it's a bit more. Speaking as a physics major in co-op, the co-op program has taught me (and I'm sure will continue to do so) a great deal in terms of entrepreneurship as well as software. It's taught me a lot of things I wouldn't know about running a company had I not actually been in one/heard people who've started one talking about it.

Combined with the people who are here, waterloo is dripping with a sense of vigour that if you go looking for it will send you to great heights.

Think about it this way: Your buddies are starting companies, earning many thousands of dollars and changing the world in important areas; are you simply going to sit around and graduate? I think not.