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Nurse repayment program?

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I was wondering if anyone has ever been approved or know someone who has been approved for the Nurse Repayment Loan Program (the government program that pays your school loan if you agree to work for a place that needs nurses) ? I'm going for RN associates and seeing what options were as far as paying student loans off (when I'm done) and wondering the likelyhood of taking advantage of that program. Any new grads taking advantage of that program tell me the details of that contract agreement, is their a high likelyhood of being approved for that, disadvantages, and finally advantages? Also, is there a lot of sign on bonuses for new grad RNs? . Thank You!