I think it's great that you are thinking ahead regarding your educational plans, and for most people who have their lives worked out to be able to attend a 4 year university, I would highly encourage that myself.
Many people attending nursing programs such as this in my area have lost their jobs, and they have families to feed. They have decided to complete a program that won't take as long as a 4 year BSN, so they do the 1+1 at schools like Galen (LPN the first year, then RN the second year). All the hospitals in my area offer tuition reimbursement for Indiana Wesleyan's program, so they don't seem to have a problem with it. I have heard nothing but good things about them, so I will reserve any opinions about them having a shady reputation.
It's wonderful that you have the option of completing a 4 year degree, and I agree that you should definitely stick with your plan. Good luck to you in your educational pursuits, and welcome to Allnurses.