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Indiana is the highest ranked business school with an online MBA, iirc.
Concur. Other reputable programs (i.e. not University of Phoenix) include Arizona State, Florida, and Penn State. They might cost a bit more, but when it comes to the MBA, reputation and alumni networking are huge. If you're really concerned with costs, you might want to reconsider getting an MBA all together.
http://wpcarey.asu.edu/mba/online/index.cfm
http://kd.iu.edu/
http://www.floridamba.ufl.edu/FutureStudents/internet.asp
http://www.worldcampus.psu.edu/iMBA.shtml
Dunno how it is for the USN peeps, but in the USAF there are two starkly different kinds of MBAs (and there are really only two types in general);
1. The ticket-punching MBA that you get in order to get promoted to O-4/O-5, and
2. the MBA you get from a more reputable/difficult school so that it has value outside of the military.
The fallacy of item #2 is that it doesn't really matter in the real world. Several years ago I had a very enlightening conversation about MBAs with the father of a squadronmate who is the CEO of a Fortune 500 company. He said, "there are two types of MBAs: those from a top-tier business school like Wharton, and everything else. Every online degree falls into the 'everything else' category."
So, don't fool yourself into thinking that the flavor of online MBA you get really matters. If you're ever going to apply for a job, and market yourself based on your education, then you need to bypass all of the schools mentioned in this thread, get out of the military, and go get a real MBA.
All of the top MBA schools (Northwestern, UCLA, Harvard, Wharton and Columbia) are huge into recruiting military officers, both separated, active and reserve. They have associations/clubs dedicated to helping mil people network and survive the programm.
And Wharton has a program "offering" their students to go to Quantico, VA for a VERY reduced USMC OCS experience:He said, "there are two types of MBAs: those from a top-tier business school like Wharton, and everything else.