If your resume lists that you attended a school in Missouri while you were working in Indiana, a potential employer may ask "How were you able to take classes in Missouri while living in Indiana?"
You will have to answer that you took courses over the Internet. If your interviewer is biased, or simply doesn't understand distance learning, s/he may assume that your academic program didn't require as much from its online students as its campus students.
We all know that's not true, but that may be one instance of a situation you may encounter after earning your degree.
Another downside is that you may not be able to benefit from in-state tuition breaks because you are attending a college outside of Indiana. I'm originally from Indiana, and I couldn't take advantage of any in-state benefits because I went to college in Massachusetts.
What degree program are you interested in? Are you looking at Columbia because it has a specialized degree?