Yes, yes it is. Do you have everything in order already? Degree? Job offer? Some starting money so you don't die poor in the first few weeks there? Know at least a little Spanish?
Good luck m8. The only thing worse than not having a job is having a job but everything is better than the neet life.
That's pretty bad for Medellin. I almost signed up with a Colombian-government sponsored program that pays around $1500 USD per month. Of course, the location wasn't as good - I think it was a small city an hour or two north of Bogotá.