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Cooperative education (co-op) programs are a type of experiential learning that provides students with the opportunity gain industry experience during college. Co-op students often start with higher salaries and obtain jobs with their co-op employer after graduation. While post-graduate outcomes have been studied extensively, less is known about the factors that contribute to co-op participation and academic outcomes for underrepresented populations in engineering. The goal of this study is to determine what factors are associated with participation and the effect of co-op on graduation outcomes. Results show that underrepresented minorities are less likely to participate in co-op; however, they experience the most benefits. This work informs co-op administrators and employers who are interested in diversifying the engineering workforce.