U of T Engineering v.s. Waterloo Engineering for ECE

Not another "I got accepted post", but with offers from both U of T and Waterloo, I have to now decide where to go. For context, the program in question is Electrical Engineering, and I currently live with my family in Toronto, which means going to Waterloo would mean paying for residence (that I wouldn't have to were I to choose U of T Engineering. ) As well, U of T is providing more in scholarships at the moment.

Is Waterloo's Co-op program that much better than U of T's that it justifies the extra expense? Please share your thoughts in the comments, and thank you in advance to anyone reading this post.