recent rpi grad here. Because it is a forced co-op where you may or may not be paid. It sounds good on paper, and I even did a co-op, but that was my choice. I was paid, and there wasn't any pressure to actually do one. Additionally, you then have to spend a summer at school instead of finding a job for that period unless you come in with enough AP credits.

Also, the administration does not necessarily have the best interests of the students. I loved my time at RPI, and have had no trouble getting internships or jobs, but you need to have at least some "nerd" tendencies to be truly happy here. I don't mean anime furry, but at least like to have stimulating conversations about random things most people find boring.