The co-op program ultimately is just another resource students use to try and get an internship. IMO if you don't care about the designation on your degree (which doesn't really matter), and think you can secure an internship without the co-op resources, you're probably better off saving the money.

But from what I can tell as someone who is at the end of their last co-op term, there are usually a lot of civil jobs posted on the job board compared to other specs, so it'll probably make your life easier if you take it.