This is cool. But very conflicting for me personally. Here I am, deciding whether to apply to the Mississippi Teacher's Corp, which would give me a free Master's degree while getting paid to teach. Probably like $35k per year. And then here is this program, which is very tempting to apply to, partly because of the salary. It should be the other way around. Teaching is so much more valuable than coding.
I don't know about the pay differentials between Toronto and Mississippi, but I'm very sure that the cost of living is a lot lower in the latter. Developer salaries in the Toronto area are also lower than the US-centric numbers you see bandied about on HN.