I teach one online Spiritual Formation course per semester for Wesley Seminary. It's been a great experience, and I think I've learned at least as much as my cohort of students. The conversation is invigorating and enlightening. We challenge, inspire and encourage each other. It's a fascinating forum for active learning, with instant application.
My friend, Ken Schenck, dean of Wesley Seminary, has written a great blog post reviewing Mark Edmonson's NY Times Op-Ed regarding online education.
I agree with Schenck.