Its mentor-based so you'd be working with an established photographer that either works at MCAD or one that you connect with in the area (Compensated by MCAD) - Or choose someone outside of the discipline, your call.
I'd disregard ranking as it means very little though considering notable graduates is an interesting statistic.
All depends on the kind of experience that you want - some have more structure, some have less. MCAD is based on a European model - you steer the ship with guidence of the faculty, mentor, and peers.