How Would A Co-op Affect My Chance At That First Job?

I’m going to Penn State and am weighing possibilities. I think I can graduate with at least a 3.5 GPA. However, let’s say if I did a co-op:
1.) Would employers ask for GPA?
2.) On average, how low a GPA are they willing to go if you graduate from PSU in EE with a co-op?