But not all programs are a safe bet.
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Online colleges have been criticized for putting profits over students; some have even been the subject of lawsuits claiming misrepresentation or fraud. To avoid scams, students need to be savvy consumers and do their research before signing up for an online degree program, experts say.
These indicators that can help students tell a good online program from a bad one.
Accreditation: Like a stamp of approval, accreditation tells students that a school or degree program meets certain academic standards. It also tells employers that graduates of the program are likely to be prepared for the workforce.
"If you really want a credential for a job, the most secure bet is to go to a regionally accredited institution," says Janet Moore, chief knowledge officer at the Sloan Consortium, a research organization specializing in online education.
While most colleges list their accreditation on their websites, students should do their legwork to ensure the school's credentials are legitimate. Some institutions tout phony credentials from accrediting bodies that either don't exist or aren't reputable, warns Anne Johnson, director of the advocacy group Campus Progress.
The Accrediting Council for Distance Education, for example, claims to be an "internationally recognized, independent and private education accrediting body," but is not recognized by the Council for Higher Education Accreditation or the Department of Education.
The College Navigator tool on the Department of Education's website allows students to verify the accreditation of any school on their radar, as well as check the vitals of that institution: graduation rates, retention rates, and default rates on student loans.
Curriculum and credits: Before enrolling in an online degree program, students should verify whether the credits they earn can transfer to another college if they switch programs.
[Read these five tips before you pursue an online degree.]
If those credits can't be transferred, students should ask themselves, "Why?" It may be because other colleges don't consider the courses in that program up to their academic standards.
Students should also ask about credit for prior courses, Moore says. "If you dropped out of college in 1990 in your junior year … are you going to lose those credits? Or can you pick up where you left off?" she adds.
Another area students should research is the curriculum for the online degree program they are considering, Moore says. Courses for an online degree in computer information technology, for instance, should teach students practical skills needed in that field, such as operating systems and in-demand coding languages.
Support services: Earning a degree online doesn't eliminate the need for academic assistance. In fact, in most cases, it increases the need for those services, experts say.
"What is the support level going to be? Who is going to help you day one, week one, when you need help?" says Chris Caywood, president of online services at DeVry Inc., which operates several for-profit institutions, including DeVry University and the Chamberlain College of Nursing.