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I have had the privilege of studying in both the traditional classroom setting and via the online medium. I suppose I am just in that generation gap where the online experience became the norm. We used to have Latin offered via interwebs at my high school, and that was through an accredited college with traditional roots from the late 1800's. I believe the medium will depend on your ability to learn. I am one of those people that get too easily distracted when my work is online. And, although I am a very bright person, I became frustrated when I could not figure something out and had to wait for an email response that could take a couple of days. Imagine trying to learn programming languages and not understanding why some program failed, went into an infinite loop, or some similar disaster all because you slipped and programmed Perl in Python or messed up a CSS in XHTML becuase you slipped up and put a string of code for VIsualBasic in there. Then again, learning multiple languages, spoken or computer based, can be tough anyways; but, the coding aspect seemed much more intense as you have to write so much code in each language to perform proper programming aptitudes. That being said, and I am sorry I rambled, I have heard that Harvard in the US and Oxford in the UK have started to offer degrees online. I believe I saw both offer linguistics as distance learning programs. As such, it seems that if such Ivy League colleges will offer the degrees then it should be kosher to earn them and find work wih the degrees. However, with anything, do all of your research before you make any life-changing decisions.