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If you know what you want to do with your life post MBA and have the determination to keep up with the rigorous course load (full time) then why not?

I have heard or numerous people getting advanced degrees in their 50s and 60s (even 70s), including my own mother. Age really isn't the issue, rather one's ability to stay motivated through the program. I met two or three guys in their 50s during welcome week and they seemed pretty eager to get started.