Hold out for New Grad program or keep searching?

I recently graduated with my BSN this past September and passed NCLEX Nov. 1, and I've been on the hunt for a job. I was a little picky at first, under the illusion that with the nursing shortage, I would gain employment rather quickly. That bubble pretty much popped! I started applying all over the place in multiple positions; I interviewed for 2, one of them being for a new grad program, the other for an ER position, and unfortunately was passed over for both.

Now the current situation: I think I have a really good chance at being accepted into a new grad program closer to my hometown; I've been calling off and on with the woman who runs the residency and asked many questions. The thing is, though, that the program doesn't start until mid-to-end-of-March, so 3 months of otherwise no work. She has stated that in the past they have placed prospective nurses who interviewed and got a position in the program, into training positions before the program actually starts because she stated herself, "nurses need a job, they need money, and we want to keep them in the program so that they don't go off looking for employment elsewhere while waiting." The conundrum is, I wasn't 100% on whether or not that's a given for every cohort they've had or will have in the future.

I feel a new grad program would be the best fit for me, and I would love to be a part of this program - she really went into detail about it and it seems like they really set you up to succeed in the long run. But with it in the air about work beforehand, I'm not sure if I should still be applying to other places in the mean time. I mean, regardless of what I think my chances are, I still have to interview, and she's said that they have a TON of applicants this round.

They should begin calling for interviews within the next two weeks.

So my question is, should I still apply elsewhere in the meantime?