Have a good idea of what you'll be doing when your done and be sure you can do it. Art school is expensive and unlike other degrees, it's kind of hard to tailor a BFA in painting to any other job. Think of the commercial aspects of what you want to focus on.
Don't go into art school thinking you know your shit cause really you probably don't, why else would you be there? Go get a job if you think you don't have the ability to grow. I've seen a lot of people get defensive about their stuff and take any kind of critique personally and they won't take any art direction and they'll end up with crap.
I think art is about having good taste and that's all you really need. If you have an awesome concept or idea and you want it bad enough, your talent and skill will raise to that bar. But it will only go as far as you can imagine. (not to sound corny).
Take a look the portfolios of the graduating students and see how well their stuff looks. If they look shitty, I'm sure the schooling is shitty. With that said, you can learn a lot of things online but what schooling offers you is the ability to communicate with other people, especially professors.
Find the places where you want to work after school and email them questions. Working professionals are usually more than willing to help out a student but once you're not they're not giving you shit. So ask around.
But if you got a full ride, Go for it.
School is what you make of it.