I am taking some online courses as well. And my school actually said that it does not show up that the classes are offered online. We are both in good shape so far, I hope so anyway.
That can't be good for your college's overall reputation.
I've never even heard of a decent university offering online courses -- I went to Michigan, which isn't exactly ivy league, and there weren't any "online courses."
I just don't understand how you could get a decent education without interacting with other students and professors.