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assuming you want to work in toronto (and not montreal)... I think it actually makes very little difference

neither school has much presence outside of canada. however, if the co-op and the price equal out for you, i would say take McMaster. it's close enough to toronto such that you can network more easily. even though it doesn't have a coop, you should easily be able to get an internship and commute to school fine. consider living in mississauga perhaps?