I'm of the opinion that you learn way more by actually doing things at a start-up, small business, or Facebook or Google, and that Waterloo is great for giving you the opportunity to do that. Sure, the lectures are useful for theory of computing and algorithms, but if you're here wanting to learn how to program or how to write SQL, you're wasting your money and time.

That said, the last UOttawa student I knew who transferred to Waterloo failed their first term here, so don't do it just because people on HN said so.