Bard is fortunate to "borrow" several good NY-area teachers. However, the level of student is not as high as many of the other conservatories. I've heard of a lot of middle-level violinists going there for grad work in order to get lessons with a really good teacher.
The openness and liberal arts program of the school is an attractive feature to the parents, and the proximity to the city without being in it. But again, just surveying the possibilities and gathering info to pass on to kid.
Especially for you guys as a Northwestern alum she should also talk with Hans Jensen there. An even greater percentage of Northwestern conservatory students get double degrees (something like 70% start and 50% graduate that way) but me and my daughter felt that excelling at both music and chemistry there had a greater chance of taking a greater toll on her mental health.
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More of a concern to everyone, the place is the creature of their President. He brings in money, and that supports programs they can do. It has a lot less institutional memory than many older schools, and will probably evolve quickly even before he is out of the picture.