From what I hear, new LVNs are not having trouble getting jobs around here in Texas. However, in some areas in the country such as California, it is very difficult for new grads to find employment. I graduated LVN school back in 2006 and had many different choices for employment.
There is always a need for LVNs in long term care and skilled nursing facilities and most will hire new grads. LTC/SNF also pay very well for LVNs - like $18-22+ starting off. You may not be able to start off in a hospital right away but there are plenty of other options for LVNs including what I mentioned above, home health, hospice, and medical offices. Not to mention once you are an LVN it is easier and faster to bridge into RN. While I don't always love my job - I love having the flexibility and security of getting employment just about anywhere I go. $4,500 for 12 months sounds like a great deal - I'd go for it! Good Luck!