Vanderbilt New Grad Program vs. Masters Program

Hello all! I am going to start applying for jobs in Nashville by the end of this year. I know that the Vanderbilt new grad program is extremely competitive. While I would like to work before getting my masters, I know that getting nursing jobs can be hard. I was thinking that I would apply for both the New Grad Program as well as their masters program (since it doesn't seem to require work experience). My worry is that getting into one may preclude me to get into the other (For example, maybe the masters program will accept me but then the new grad program would not....or if i got into both and decided to do the masters later, it may account against me for declining earlier on?) Does anyone know of people who have applied to both at the same time? Should I only apply to one, or not throw all of my eggs in one basket and apply to both?