As I know, the new Biostatistics program of PSU is very good.
1.They only recruits 3-4 students per year, so the class size is very small which means you can get very good attention and communication from the professors.
2.They have plentiful of funding resources compared to PSU stats program or other biostatistics programs like UNC.You don't have to do TA assignment.
3.There are two distinguished professors( two big ones) in the program, while PSU stats has two as well. However, 4 students per year in biostats compared to 20 students per year in PSU stats program. Besides that, there are a few really good APs.
4. I know one of the graduates in this program, he got 7 job offers from top companies. And in his class one got assistant professor position. There is one student will graduate in 2017, and he probably will find another AP position.
It is new and in hershey campus, that's the cons. But, I think it is a very good program now and will be better in future. I would definitely rank it as a top 15 biostatistics program.