What to do?

I recently got accapeted into a community college to start in January for a 12 month Diploma program. I thought I had it all figured out to just attend there because the other school I applied at is a medical school and it is very hard to get into. You had to have great attendance to all your high school and college courses, a 2.5 GPA in all classes and be in the top half of your high school graduation class. They also only accept 20 people every 2 years! I applied knowing I did not meet all these requirments and wrote a 3 page essay saying why I wanted to be a nurse and gave them a copy of my CNA training and state licensure. Well sure enough I got an acceptance letter for this program a "conditional acceptance" letter, I have to take a stratigies for success class because I met all but one of the requirments to get into the school. I am accepted to start in August of this year, it is a 2 year Diploma program and is designed for working adults and is only 2 days a week. It sucks that it is 2 years but I have two small kids and am due anyday that makes three, so this program seemed interesting to me for that reason and the fact that I can still work and have a income for my family coming in and not have to pay for fulltime daycare for three kids, the cost is outrageous for three kids under 4 years old in daycare!! And also because it is one of the top medical schools in the state and I know I could land a great position when I am done. And I can transfer into the BSN program if I decide I want to go on and be done in a little over a years time because I have transfer credits elsewhere.
My question is what program would you chose? Is it worth it to suck it up for 12 months and get it done or is it better to take my time and let 2 years go by?
I have to send in a deposit in a few days if I want the August program. But I need advice because I am confused on what to do, can someone please offer an opinion? Thanks!
Cost at the community college $5000
Cost at the medical center $8000