Sounds like a great MBA candidate. But, it's great that you guys are doing the diligence.
My approach would be to start with all the things that MBA may provide. (Salary, network, career progression, academic knowledge etc.)
1.) Salary goal - average salary at most top 10 schools is around $120k base, $25k signing bonus, and $30-50k year end bonus. So, that is quite a bit more than his stated goals. But, again, he would need to weigh it against the loans he would be taking to reach that position.
2.) Career goals - this is somewhat tricky.
a.) Consulting - I think it's a fairly established fact that you would hit a ceiling without an MBA in this industry. Even if he manages to switch (might be quite difficult), most of his peers will have an MBA.
b.) Start his own company - Few questions to probe here - does he have the required motivation and/or experience (to build a start-up/raise money etc.) , a vague idea of what industry/area he wants to target, the network, the knowledge. Is he looking for co-founders, people with similar goals etc. All these are values that entrepreneurs look to derive from an MBA program.
c.) VP/C-level exec - Although there are guys in those positions who dont have an advanced degree, having an MBA would certainly be a quicker route to reach there.
Also, it becomes progressively difficult to get a full time MBA after early-mid 30s. So, that's a point he should be considering as well.
Finally, just be aware that this forum has tons of people who find value in an MBA. Discount the bias