We were told at Drexel that the average student earns about $17000 on coop.
Time period would be useful.
Drexel is a six-month co-op school so that works out to about $17 an hour. I’d hope that was school overall, not specifically engineering.
Anecdotally from friends engineering co-op’s at Northeastern seem in line with the $20-$25 an hour ranges for the middle 50%. Housing usually comes with non-local co-ops but local ones usually it’s just the pay. Six month periods as well.
In terms of budgeting, don’t forget taxes, food, and housing if not paid for. Generally, I wouldn’t factor it into co-op pay other than the semester being a wash, and anything you save after that is extra.
My S19 is at a coop school and we are not factoring coop earnings into the cost of attendance at all given that we can’t forecast where the work will be. If he’s close to his campus he’d likely live on campus or nearby as the commute to Boston from our house is no fun. He could live home if it’s more local though. There are just too many unknowns at this point.
Our ds made approx 2/3 of his post-graduation salary. His company also gave him scholarship $$ and full benefits until graduation.
Housing was inexpensive and in furnished apts at a complex where the company had arrangements for co-op students to live. He had a 2 bedroom apt that he shared with another co-op student (who was from a different U.)
Our ds did save a significant amt.
We did factor it in. I believe we assumed about $15000 from coop earnings could go towards COA for 4 years. This was for any of the schools she applied to. She knew what we would contribute and what the bottom line had to for her to be able to afford to attend. In the end her coop ended contributing much more which meant no loans at graduation. The flip side is you have to get the coop position. Where my D attended you could apply through the school to up to 4 companies. She went to an industrial round table and got a 5th interview she set up herself. Her school required she maintain a 3.0 GPA. If you don’t get a coop position be prepared to factor how you will cover the cost.
At a school that guarantees a co-op as part of their program for graduation, I’m not sure why you wouldn’t factor in at least something?
Even our D’s freshman internship (which was just a stipend) was still enough to cover books, incidentals, plane ticket for study abroad, etc…
There are “co-op schools” you mentioned like Drexel and NEU.
I assume co-op is mandatory there?
There are also engineering and CS programs at schools like University of Pittsburgh, where there is an established co-op program, but it is up to the student whether they want to utilize it or not.
I think they can choose to do co-op there after sophomore year, usually alternating semester of classes with semester of co-op (three co-op semesters), including summers.
They would then usually graduate after 4 1/2 years.
For the co-op semesters they would need to factor in housing costs and a co-op fee, but not tuition, and they would earn a good salary.
You could probably reach out and ask about co-op industry partners, student placements in recent years, and salary information.
https://www.engineering.pitt.edu/Student/Student-Programs/Coop/Co-Op-Home-Page/
Co Ops came up a few times when we toured Georgia Tech. The $ amount was asked a few different times, but we never got a good answer. It varies a lot depending on major. Our tour guide was a CS major and she said most CS majors prefer to do summer internships because the money is still great and they get to be regular students. Some of the girls in her sorority do Co Ops, and they hunt for ones in Atlanta so they can continue to use their apartment and hang out with friends.
We heard numbers as low as $10 an hour for freshmen with less desirable majors to $20k for a summer internship in CS. The $10 an hour for a less desirable major sounds bad, but that same student probably needs the Co Op experience to get a good job.
One more thing, I think the line between Co Op and internship is often indistinguishable.
You might not get a high paying co-op or one in your field. How well did Northeastern, Drexel, or Cincinnati civil engineering students looking for co-ops do in 2009?
As @ucbalumnus highlights it really is more about caution. As a CS major doing 2 co-op’s + 1 internship at Northeastern, I was lucky enough to be able to save quite a good deal, but that was very much related to the co-op’s I happened to land.
What would have happened if I decided to change majors? That would not only delay co-op or cut the number I could do, but could have also moved me into a field that made significantly less and saved nothing. Relying on co-op pay is also betting on the student not changing majors. While it may seem likely for some, it’s another risk factor you’d be introducing.
Another factor to consider for families paying by the year is that costs will essentially be front loaded. You’ll have to pay for a full year or two, but then after two years, co-op’s break up costs between potential savings and simply not paying tuition for half the year. Even ignoring co-op pay, you’re essentially paying for two years of college over a 3 year period. For families paying based out of yearly pay rather than savings, that is notable. Even for savings, you get an extra year of interest/investment growth, which with today’s private college prices is nothing to sneeze at.
If you really get into the weeds (as you should once you have an acceptance + financial aid in hand) there are many things to consider, but it’s always best to know the worst case scenario. Plan for a major change, an economic crash, doing one less co-op than expected, getting a lower end paying co-op, and see how the numbers work out. You can of course try for an “expected” calculation as well, but if you can’t afford the worst case scenario without co-op pay factored in, its probably best to look around if you have comparable options.
I agree that you shouldn’t count on the high end of the pay range but I don’t see harm in factoring in something at co-op mandatory programs.
That still doesn’t account for changing majors. Many co-op’s in things like art, theatre, journalism, and many humanities only cover cost of living, if that. Even some STEM subjects like general biology may not make more than COL unless you hit the high end of the pay range. So let’s say someone goes in as a civil engineering major and ends up working on environmental biology (a reasonable switch even for someone who was confident in their major choice going in) - there goes that co-op pay you were relying on.
Ah, I wasn’t thinking of transferring totally out of engineering!
Or industry downturns, like 2009 for civil engineering, 2002 for computer science, 2015 for petroleum engineering, etc…
Of course, industry downturns can also affect finding a job at graduation, although some facing that try to get into a funded graduate program to wait out the downturn.
My daughter who attended Northeastern did 2 6 month co-ops and graduated in 4 years (not engineering).
First co-op was in Boston and she stayed in the dorm and commuted by subway. Although it was a decent paying co-op, dorm prices are high and she probably came out even (I paid the dorm bill and she pocketed the money so I don’t know for sure). She did have to pay for the commute, lunches, work clothes, etc. during that time.
Her second co-op was on the west coast. It was better paid and included a housing stipend (which did cover the rent on the place she chose to live). They also covered plane fare to get there and to get home at the end of the 6 months as a relocation expense. She came out ahead on that one.
Keep in mind that their income will be taxed and they will pay social security, unemployment insurance, disability, etc. - depending upon where they live and that state’s laws.
I think it is safe only to hope they come out even over the co-op period. Sometimes commuting costs might be high (if they need a car to get there), sometimes they will be someplace with a high cost of living (and pay more for food, internet, rent, etc.), sometimes they will be far away (and pay more to travel home or for you to travel to see them), there are just too many unknowns.
I think a few of her CS/engineering friends did well on their co-ops, stayed in Boston in cheap off campus housing, commuted via the subway, and got well paying co-ops.
My son is a co op engineering student at Auburn. His program has him working a total of three semesters during his college career. He was able to do his first co op semester the summer after h
Oops. I didn’t finish typing lol. Any how, he was able to do his first semester the summer after freshman year. He started at 16 dollars an hour and it goes up to 20. They also provide housing which he did not use. He routinely works overtime. Additionally he has traveled all over the country on assignment and has accumulated a ton of frequent flyer miles. He also changed majors and was able to keep his co op. His earnings definitely make a dent in his tuition. However, as others have mentioned the real value lies in the work experience gained and the fact that he will graduate with a job lined up.
A lot of engineering schools have co-op programs. However, if you’re in a marketable major, you could also just find jobs/internships yourself, and many schools (especially publics) would allow you to take leave for some terms to work.