The first semester is very difficult and you will be challenged mentally and physically (ie. lots of difficult work and little sleep). You really need to take a minute and think if you can handle this, as it is an extremely heavy workload and is done at a blistering pace.
Although I found it was great prep for the internship, since you will have the best work ethic in the office. The program also makes you into a self starter, nothing is spoon fed and you're expected to keep up, which again is excellent preparation for the work place.
Internship placement this year was 100%, roles were diverse including desk quants, model vetting, consulting and asset management. These were mostly in Toronto with myself and a couple other students finding roles abroad (London and Mexico respectively).
In terms of last year's full time placement, from what I've heard, all have found jobs in finance (risk, trading, asset management).