Things to consider

Considering the Recession time and the money involved in being a proud owner of this valuable Degree ie MBA, I would suggest its always good to keep the basics clear before applying.

Personally I chose my target school based on following criteria

1. First and the foremost the alumni reach. How strong the alumni and its regional presence keeping in mind the destination where you plan to continue post-MBA
2. Faculty.This is important in a way because renowned faculties can at times help you in finding a job
3. Core strength of the school. Team should have a well balanced focus on leadership,teamwork and global perspective which are three important criteria to succeed.
4. Fees: This should not be too important as good business schools have tie-up with some financial institutions which can provide loan at a minimal rate. This is not because you are privileged but because they trust the strength and the reputation of your future B-school