should new grad residency program count as experience

To nurses involved in recruiting new grads: would the UMDNJ new grad residency program be considered experience from a HR standpoint? Do you feel that it would help a new grad "stand out" in order to get a job?

http://sn.umdnj.edu/cont_ed/nurseresidency.htm
-it's a 16 wk program
-you get certifications: ACLS, phlebotomy, IV certification, EKG interpretation, glucometers, quality and safety
-384 clinical hours at Jersey City Medical Center 1:1 precepter

And you have to pay $4,500 for this experience, so how would someone that is hiring consider this experience for a new grad RN? I'm interested in doing it but want to know how HR would perceive this training?