I just graduated in May and started work in Sept. I did 4 weeks of med-surg and then went to L&D. The first couple of weeks I was so sure I had made the wrong decision. It is very overwhelming because we barely cover OB in school and clinicals. It was so much more to learn than I anticipated. Now things are starting to get easier and I feel like I halfway know what i'm doing! Do not change hospitals just because you think you're not ready for L&D.
I have heard that if you are already an RN seeking your Master's, it's a great program. But DO NOT go there if you do not already have experience. You can do the clinical experience on your own, but employers will hire nurses from other programs before hiring Vandy grads.
I don't know how they select who gets in. My gpa was only 3.1 when I was accepted, but I got a 27 on my ACT. I also already had a degree. I didn't think I would get in because so many people apply with better gpa's than mine was.