According to the legendary business and management guru Peter Drucker, the value and convenience of online classes and degrees make them the future of higher education.

Drucker certainly has the data on his side. Online classes and degree programs continue to grow in popularity every year. The 2010 Sloan Survey of Online Education shows online education grew by over a million students just in the past year, an increase of 21%, the largest single-year growth on record. This far exceeds the 2% growth in higher education enrollment overall. The total number of college and university students taking at least one course online is now over 30%.

The Advantages of Online College and University Degrees

There are many reasons for the dramatic increase in online degree program enrollment. More and more adults are returning to school in order to upgrade their skills and gain some advantage in an increasingly competitive job market. A high school diploma no longer holds the same value that it used to. Having a college degree is now more necessary than ever for securing a decent job or advancing in a career.

The flexibility and relatively low cost of online colleges and universities make them an especially attractive alternative to traditional brick and mortar schools, particularly for working adults and students with children. Moreover, students pursuing an online degree from a top ranked online college or university can rest assured they are getting an education that is every bit as good as one they would receive in a traditional classroom setting. A recent study shows that employers are increasingly recognizing the quality of online degrees and now commonly accept employees with degrees from accredited online colleges and universities.

Why Use Our Online College and University Rankings

With the rise in popularity of online degree programs, the number of online colleges and universities has exploded in recent years. Students seeking an online degree now have an unprecedented variety of online schools and degree programs to choose from. The quality of these online schools and degree programs vary widely. Some are high quality and accredited institutions of higher education, others are worthless diploma mills looking to exploit people’s desire for education in order to make a quick buck, and others fall somewhere in-between.

That’s why we’ve put together this list of the top 25 best online colleges and universities for 2011. We’ve done the research to determine which online colleges and universities offer students the best, most reputable online degrees for their money so you don’t have to. Unfortunately, there are many online college and university rankings out there that are really nothing more than paid advertisements for certain schools and make no attempt at providing an objective, data-driven analysis. We strive to provide the most authoritative, objective, comprehensive and transparent analysis of the top online colleges and universities available, so you can be confident in making one of the most important decisions of your life: where to invest in your education.

How to Use our Online College and University Rankings

That said, only you can make the decision about which online college or university is best for you. Every student is different. Our list of the top 25 online colleges and universities for 2011 is offered as a guide, a place to start in your personal journey towards choosing the online degree program that is right for your unique needs and situation.

How We Calculated Our Online College and University Rankings

We’ve relied on the following criteria to generate our online colleges and universities rankings: student satisfaction (as measured by graduation and retention rates), peer and instructional quality (as measured by acceptance rate and student-teacher ratio), affordability (as measured by tuition costs and availability of financial aid), and credibility (as measured by years of accreditation, reputation and awards).

Data was gathered from objective, independent sources like The National Center for Education Statistics and College Results Online, as well as from school websites and direct conversations with school representatives.

Statistics were calculated using the lowest representative tuition per credit hour and assuming full-time status. Tuition may vary depending on the degree program and full-time vs. part-time status. Where a school operates multiple campuses, statistics from the flagship or largest campus were used. Where a difference between in-state and out-of-state tuition costs exist, the out-of-state tuition cost was used. Only schools that offer undergraduate degrees were considered.

GRA=Graduation Rate
RET=Retention Rate
S/T=Student-Teacher Ratio
ACC=Acceptance Rate
AID=Percentage of Students Receiving Financial Aid

Top 25 Online Colleges and Universities of 2011

#1. Liberty University Online

A Christian university with a wide selection of online associate’s, bachelor’s, master’s and doctoral degree programs in everything from business to religion, Liberty University Online is known for its affordability and high student satisfaction. A very large school with over 50,000 students, Liberty University Online’s major drawbacks are a very high student-teacher ratio and a lack of admission selectivity. Still, everything taken together, Liberty University Online is one the best online schools that deserves to round out our list.

GRA	RET	S/T	ACC	AID
44%	78%	45:1	100%	97%

–>Click here for more information on Liberty University Online

 

#2. St. Leo University Online

Listed as one of the Top 100 Degree Producers by Diverse: Issues in Higher Education, an organization that tracks diversity issues in higher education, St. Leo University is a Catholic, liberal-arts based university open to people of all faiths and none. While offering many degrees in business and other career-oriented fields, St. Leo University also offers online degrees in religion, sociology, psychology and liberal studies. Tuition is fairly high, but nearly every student receives financial aid.

GRA	RET	S/T	ACC	AID
43%	68%	15:1	76%	99%

–>Click here for more information on St. Leo University Online

 

#3. Western Governors University Online

Called “the best and cheapest university you’ve never heard of” by TIME Magazine, Western Governors University was recently awarded the Sloan Consortium’s 2010 Ralph E. Gomery Award for Excellence in Online Education. Western Governors University has the interesting distinction of being the first school established by a group of state governors, having been founded in 1995 by the governors of 19 western US states seeking to expand quality higher-education opportunities to their constituencies. With several bachelors and masters programs in education, health, business and information technology offered at a very affordable rate, the only reason Western Governors University doesn’t rank near the very top of our list is its relatively low completion rate and extremely high student-teacher ratio. Nevertheless, Western Governors University remains a very good overall value for an online degree.

GRA	RET	S/T	ACC	AID
22%	70%	47:1	45%	71%

–>Click here for more information on Western Governors University Online

 

#4. Virginia College Online

While the student-teacher ratio at Virginia College Online is pretty high, its solid student satisfaction indicators suggests a good online experience for students. With affordable tuition, made even more affordable by the fact that textbooks costs are included, Virginia College Online is one of the top online college values around. Virginia College Online offers degrees in business, education, IT, and healthcare, while also being one of the few top online schools offering online culinary arts degrees.

GRA	RET	S/T	ACC	AID
46%	70%	29:1	77%	93%

–>Click here for more information on Virginia College Online

 

#5. Colorado State University-Global Campus

Colorado State University-Global Campus offers several online degrees oriented towards professional careers in business, management, education, and technology, all backed by the reputation and standards of the Colorado State University System. Colorado State University-Global Campus is about average in terms of affordability, but ranks high in terms of student satisfaction and quality. All in all, Colorado State University-Global Campus is a very good place to go for an online college degree.

GRA	RET	S/T	ACC	AID
64%	83%	18:1	72%	66%

–>Click here for more information on Colorado State University-Global Campus

 

#6. Boston University Online

Not far behind Penn State University World Campus in terms of student satisfaction and completion rate, Boston University Online has an extremely low student-to-teacher ratio and selective admissions, ensuring a high quality online learning experience. What one loses in affordability may be made up for in quality and reputation. Boston University Online was awarded the 2010 Sloan-C Award for Excellence in Institution-Wide Online Education and a 2010 Silver Best Practices Award for Distance Learning Programming from the United States Distance Learning Association.

GRA	RET	S/T	ACC	AID
82%	90%	13:1	54%	63%

–>Click here for more information about Boston University Online

 

#7. Keiser University Online

Keiser University has been offering career-oriented education for over 25 years and now offers a variety of online associates, bachelors and masters degrees in business, healthcare, education and other fields. Keiser University has an outstanding graduation and retention rate, indicating high student satisfaction. Tuition is high, but almost three quarters of Keiser University students receive financial aid.

GRA	RET	S/T	ACC	AID
72%	79%	20:1	74%	74%

–>Click here for more information on Keiser University Online

 

#8. Utica College Online

Utica College was founded by Syracuse University in 1946 and retains close ties with its mother institution. One of the few top online schools offering degrees in the fields of cyber-security and cyber-intelligence, Utica College Online has staked out a unique place in online education. Utica College Online ranks well in terms of affordability, and boasts an exceptionally low student-teacher ratio. One of the best online colleges, especially for those interested in the fields of cyber-security, economic crime and healthcare.

GRA	RET	S/T	ACC	AID
49%	64%	11:1	78%	98%

–>Click here for more information on Utica College Online

 

#9. Champlain College Online

Around since 1878, Champlain College was highlighted as one of the “top up and coming schools in America” by U.S. News & World Report 2010. Champlain College has established a great reputation for its online bachelor’s degree and certificate programs, with over 30 programs now on offer. Tuition is fairly high, but a good majority of students receive financial aid. Champlain rates high in terms of peer and instructional quality, and student satisfaction indicators are standout as well. Definitely one of the best online schools for bachelor’s degrees and certificate programs.

GRA	RET	S/T	ACC	AID
62%	73%	14:1	77%	81%

–>Click here for more information on Champlain College Online

 

#10. Regis University

A Jesuit school with over 130 years in existence, Regis University’s College for Professional Studies launched one of the very first online college degree programs in 1997, and has since built a solid reputation for online academic excellence. Offering over 25 different online degree programs in business, communications, education, administration, computer science and other areas, Regis University boasts the lowest student-teacher ratio of any of the schools on our list. Regis University doesn’t rate very high in terms of affordability, but if quality is what you’re looking for, it’s a solid investment, and one of the best online college options available.

GRA	RET	S/T	ACC	AID
65%	71%	8:1	80%	62%

–>Click here for more information on Regis University Online

 

#11. Saint Joseph’s University Online

Saint Joseph’s is a Jesuit university with a solid 150 year history and outstanding academic reputation. Although Saint Joseph’s currently only offers one online bachelor’s degree (the multi-disciplinary Bachelor’s of Science in Professional and Liberal Studies), they have a number of online master’s degree programs in business, criminal justice, education and healthcare. The tuition is fairly steep, but over 90% of students receive financial aid, and the strong student satisfaction and instructional quality indicators suggest students get what they pay for.

GRA	RET	S/T	ACC	AID
77%	86%	14:1	82%	92%

–>Click here for more information about Saint Joseph’s University Online

 

#12. Northeastern University Online

Very few of the best online colleges and universities can match Northeastern University Online when it comes to the breadth of online degree programs offered (over 70 online degrees in several different fields). Northeastern University Online’s high graduation and retention rates, coupled with a very low student-teacher ratio and selective admissions, speaks to the quality of their programs as well. The vast majority of students receive financial aid to help cover the costs.

GRA	RET	S/T	ACC	AID
75%	91%	15:1	41%	86%

–>Click here for more information on Northeastern University Online

 

#13. Full Sail University Online

UNleashed Magazine called Full Sail University one of the top 5 film schools in the country, online or otherwise. Rolling Stone and Electronic Gaming said the same about their music and gaming programs. If you’re interested in the music, film, gaming industries, or anything having to do with new-media, it’s hard to do better than a degree from Full Sail University. They’re not cheap, but their solid retention and graduation rates speak to a high level of student satisfaction, and almost three quarters of their students receive some form of financial aid to help with the costs.

GRA	RET	S/T	ACC	AID
78%	83%	18:1	100%	73%

 

#14. Penn State University World Campus

With the combination of outstanding student satisfaction indicators, high peer and instructional quality, a wide diversity of degree programs, and a world-class reputation, Penn State World Campus tops our list of the best online colleges and universities for 2011. Long a leader and innovator in distance education, Penn State University World Campus offers the same high quality instruction and the exact same degree and transcript as it awards its traditional on-campus students. Although tuition is a little on the high side, a strong majority of Penn State University students receive some form of financial aid to ease the burden.

GRA	RET	S/T	ACC	AID
85%	93%	17:1	51%	70%

 

#15. North Carolina State University Distance Education

A major research university with a global reputation for its leadership and innovation in education, engineering, technology, science and mathematics, North Carolina State University Distance Education offers degrees in each of these fields and more. From bachelors to PhDs, North Carolina State University Distance Education provides the same quality faculty and instruction for its online degree students as it provides its traditional on-campus students, and at a very affordable price. North Carolina State University Distance Education ranks near the top in terms of student satisfaction indicators, making it an excellent online education value.

GRA	RET	S/T	ACC	AID
73%	91%	17:1	59%	62%

 

#16. Florida State University Online

Florida State University Online ranks near the very top of our list in terms of student satisfaction. And with reasonable tuition rates and and 98% of students receiving some form of financial aid, it is affordable as well. Despite a student-teacher ratio on the high side, Florida State University Online offers a wide selection of degree programs and a fairly selective admissions process, making it one of the top online schools around.

GRA	RET	S/T	ACC	AID
71%	91%	25:1	61%	98%

 

#17. Sullivan University Online

Sullivan University’s Global e-Learning program offers outstanding affordability coupled with a strong student satisfaction rating. The only reason it didn’t rank higher on our list of the best online colleges is its low peer and instructional quality indicators, based on a very high student-teacher ratio and an open admissions policy. Still, everything taken together, Sullivan University is one of the top online college values we’ve seen.

GRA	RET	S/T	ACC	AID
69%	67%	35:1	100%	100%

 

#18. Rochester Institute of Technology (RIT) Online

U.S. News and World Report has recognized Rochester Institute of Technology as the top Northern university for academic reputation, and in 2008 The New-Media Consortium awarded Rochester Institute of Technology’s online degree programming with its Center of Excellence Award for outstanding online education. With its low student-teacher ratio and high student satisfaction ratings, its hard to beat Rochester Institute of Technology in terms of quality. Tuition is definitely on the high side, but over 90% of students receive financial aid.

GRA	RET	S/T	ACC	AID
66%	85%	12:1	62%	92%

 

#19. Drexel University Online

A pioneer in quality online education, Drexel University Online was selected, along with Boston University Online, for the 2010 Sloan Consortium Award for Excellence in Institution-Wide Online Education. U.S. News & World Report ranks Drexel University in its top 100 colleges and universities for 2011. Not surprisingly, Drexel University Online rates near the very top in our student satisfaction and quality ratings. Unfortunately, it ranks near the very bottom in terms of cost, though this is tempered somewhat by the fact that nearly every Drexel University students receive financial aid.

GRA	RET	S/T	ACC	AID
66%	83%	10:1	55%	99%

 

#20. Everglades University Online

There’s nothing flashy or fancy about Everglades University, but impressive graduation and retention rates, and a very low student-teacher ratio makes it worthy of inclusion in our list. Tuition is high, but so is the percentage of students receiving financial aid. With strengths in aviation science and degrees in business, management, and even alternative medicine, Everglades University is a solid, no-nonsense choice for a top online college degree.

GRA	RET	S/T	ACC	AID
65%	89%	10:1	84%	80%

 

#21. UMass Online

The University of Massachusetts is widely regarded as one of the top universities in the U.S., and UMassOnline extends the school’s reach to a global audience. A recent winner of a Sloan Consortium Award for Most Outstanding Online Teaching and Learning Program, UMassOnline students receive the same quality education and degree as traditional on-campus students, and at a fraction of the cost. UMassOnline offers one of the very best online degree values, with reasonable tuition and generous financial aid. Definitely a school to check out if you’re in the market for a well-respected online degree.

GRA	RET	S/T	ACC	AID
65%	87%	18:1	67%	84%

 

#22. Oregon State University Online

Oregon State University Online is the most affordable online college or university on our list, and offers one of the broadest selections of online bachelor’s and master’s degrees in the sciences and liberal arts. Students who graduate from one of Oregon State University Online’s degree programs receive the very same degree and transcript as on-campus Oregon State University students. Although the student teacher ratio is a little on the high side, Oregon State University Online rates very well in terms of our overall student satisfaction metrics. For the money, its tough to do better than Oregon State University Online for a top online college degree.

GRA	RET	S/T	ACC	AID
60%	84%	25:1	84%	74%

 

#23. Fisher College Online

Fisher College Online has garnered a national reputation for its online associate’s and bachelor’s degree programs in business, management, communications, nursing and other fields. Fisher College Online’s student satisfaction and instructional quality are strong. With reasonably priced tuition and over three quarters of students receiving financial aid, Fisher College Online is a solid choice for a high quality online college degree.

GRA	RET	S/T	ACC	AID
56%	55%	16:1	60%	76%

 

#24. Fort Hays State University Online

An online university with a truly global reach, Fort Hays State University Online claims graduates in every U.S. state, Europe, the Middle East, islands in the South Pacific, Asia, and elsewhere. No doubt its affordability is one of the qualities that makes Fort Hays State University Online attractive to students from around the world. Relatively strong graduation and retention rates, along with a respectable student-teacher ratio, make Fort Hays State University Online worthy of inclusion in our list of top online colleges.

GRA	RET	S/T	ACC	AID
51%	68%	18:1	92%	98%

 

#25. LeTourneau University Online

LeTourneau University Online is an interdenominational, evangelical Christian university based in Texas that has developed a solid reputation for its online degree programs. Boasting a 94% employment placement rate for its online graduates over the last three years, like all of the schools on our list, LeTorneau University Online has solid graduation and retention rates, as well as competitive admissions and reasonable tuition. For an online bachelor’s or master’s degree in business or education, LeTourneau University Online is definitely one of the best.

GRA	RET	S/T	ACC	AID
48%	71%	21:1	59%	98%