To me (and most other people I know) the biggest factor in looking at a college or grad school is the teacher. The person you'll be studying your instrument with individually over the course of the next 2-4 years. However when discussing schools with my current teacher, he brought up a factor I had never considered before: the culture of the town the school is located at. For instance, some very good schools are located nowhere near a professional symphony orchestra, and some are located near semi-amateur orchestras. This is something that I never imagined while obsessing over who's teaching where.
Can anyone supply a list of musical* factors that every student should consider, whether picking his first college or her first grad school? Please remember I'm looking for a complete answer: every musical factor you think should be considered. Explanations for any qualities that are not self explanatory would be appreciated!
*To clarify, when I say "musical," I am looking for things which can be relatively directly attributed to developing musicianship. If a school has visiting artists, masterclasses, and several opportunities to perform, these pretty clearly affect the development of a musician. And whereas someone could make a humorous case for "good grub" revitalizing and motivating a hungry musician, this is not a musical factor. When in doubt, "Is your answer about music practice, performance, composition, technique, theory, or history?"