Co-op can help students explore their fields of interest while they continue their education. As a co-op student, you have a coordinator on campus who provides career exploration and job search information. Some students are able to find their own co-op positions, but these are reviewed by the college to see if they are appropriate for new learning. Finally, co-op graduates are in a stronger position for obtaining a job in their field after they graduate because they have the kind of prior, related experience sought by employers. Co-op is a learning experience that may or may not involve course credit.
Colleges offer different types of recognition for participation in co-op.
Some offer academic credit, some offer co-op credit, and some don't offer course credit but have a notation on the transcript. There are also programs that require participation in cooperative education as an element of the degree. The most important benefit is not credit, it is the learning, improved skills and real-world experience you get. No, although many employers are interested in the students they believe will stay with the company. After all, part of the reason many companies or organizations participate is to help identify and train future employees.