Where do you want to have your internship? If your internship is during the regular semester, you obviously need an internship close to your college campus, but during the summer months you may wish to have an internship near home so you can save on expenses (and enjoy mom or dad's cooking/laundry service/etc.) or in a location where you hope to land a full-time position when you graduate -- or just to experience a place in which you have never lived before.

Will you consider both paid and nonpaid internships? It would be great if all internships paid, but in reality a large number do not - especially in certain industries. So, you need to decide whether you can afford to not get paid during your internship.

Do you want college credit for the internship? Many colleges offer at least some college credit for internships. The plus side (besides earning the credits) is that there is usually an internship program with an established list of employers and internships available to you. The down side is that there may be more restrictions on the type and amount of work you can do based on the program guidelines.