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1. Consider its ranking.
2. Check financial aid.
3. Check the location of the school to make certain you are going to be happy living there.
4. Check your opportunities to be a research/teaching assistant. Also consider faculty/grad student ratio.
5. In a research-focused grad degree, consider a university specializing in your chosen field, or one with a professor you'd like to work with.
6. Try to visit the university, not as part of the "visitors" round, but go alone and meet students, visit some classes. Get a feel for the campus.