I attended NCSU's MFM and think this is a good evaluation. As mentioned, biggest plus is the cost, especially for in-state students. I paid one semester what one class costs in a private school. One drawback is the program is taught by academic mathematicians/statisticians so some coursework may be very theoretical (e.g. graduate course in probability or math stat) and only certain classes apply directly to finance. Not necessarily a bad thing as degree is somewhat of a hybrid of financial math and applied math master but it's good to know what you're getting into.

Another point I'd add that is typically underrated is that there is a growing relationship with the program/NCSU in general and triangle tech companies (the new NCSU Math/Stat building is called SAS Hall for a reason--founder of SAS was a NCSU Stat PhD student) and Charlotte banks (i.e. Bank of America--BofA gave $1MM to start an Enterprise Risk Initiative in the school of Management/Business at NCSU).