Be careful what you apply for. The ERAU CAPT program is excellent training in excellent aircraft. Thats about the only upside to the entire scheme.
The downside is that it does not guarantee you a job in the end, in fact I graduated from Embry Riddle without going through that program and I have gotten pilot employment much faster than the CAPT graduates.
In the end its a big investment and if you want the comfortable experience of going through a whole start to finish course at ERAU I would recommend it only from the training side, which is excellent.
However if you want peace of mind afterwards with lots of money left in your pocket, most employers wont care if you flew a Diamond DA42 or a Piper Seminole during training. All they care is that you have the qualities to be a good crew member and pilot in that company.
Good luck.