The cost is definitely the worst thing. Smith now costs more than $50,000 a year to attend. Smith does provide need-based financial aid, but provides very little merit-based aid. So Smith will do its very best to make sure that you or your family can just afford tuition, but there will be lots of loans. Also, where you may expect scholarships from another school, don't expect them from Smith. Navigating the financial aid office is rumored to be difficult too, espescially when your financial situation changes and you need your aid reviewed.
I think the fact that it is a women's college is simultaneously the best and worst aspect of Smith. It creates an environment in which women feel uninhibited and can really indulge in a journey toward self-discovery, and it is a very comfortable, safe campus. It is empowering to attend an institution founded as the women's counterpart to the Ivy Leagues (men-only at the time), and there is much value in tradition, but many students (especially straight ones) find they miss the male element on campus and dating can be quite difficult.
Smith has a bit of a cheerleader attitude about itself, mostly in a top-down way. I loved the place and the people and did not need to be told how much I did, and I was rather annoyed by how much hand-holding they seemed to think we needed to make friends and study and do other ordinary things. And it was all the more irritating when the administration did screw up in a big way.
The academic pressure. Smith has a great location in a medium size town, the students are creative, intelligent, open and fun, but the academic environment is tense and competitive. Everyone is always trying to do better than each other and the atmosphere would be more fun and relaxed if people didn't focus so much on academics.
The worst thing about this school is the meal/dining plan. there is only one plan: either you can eat (three meals a day) in the dining halls, or you can't. And the food is quite poor quality. The menus have not changed since I started herea year and a half ago.
Women here can often be so focused on their own personal gain that they will screw anyone they need to get ahead. I've heard of girls actually ripping pages out of books where they found good info to go towards research papers so no one else gets the info
The Smith bubble. It really shields you from the outside world, and you lose track of things that actually matter, as compared to the petty things that go on at school. You forget how good you actually have it.
Can be hard to reach out to other schools, unless you are in an extra curricular activity. Hard to meet men, it's an all women's school. Can feel closed in, very stressful, especially during finals period!
If you really want a big university experience with wild parties and lots of boys...not Smith. If you want to really focus and propel yourself into greatness, you are a Smithie waiting to happen.
The worst thing about my school would have to be its lack of men. Being around all women is very freeing and even relaxing, but I miss their input on certain subject and arguing.