UNC Kenan-Flagler Business School started its new online MBA program this week with a welcome gift: a mostly positive write-up in the Wall Street Journal.

The must-read newspaper for corporate executives noted that UNC is making a "risky online bet," with the "first program of its kind from a top-20 U.S. business school." One big risk is overcoming the stigma that some online MBA programs "are of low quality or aren't as competitive as a regular full-time program."

But the story also predicts that UNC's strong reputation and high admission standards will appeal to busy executives, especially in areas of the country that don't have an MBA program nearby.

UNC announced the MCA@UNC program last fall. Its first class includes 19 students, who will shell out $89,000 for the two-year program.