Online course offerings have been growing at a rapid pace in post-secondary education. An ordered probit model is estimated to analyze the effects of online vs. face-to-face course format in achieving specific letter grades. An upper-division agricultural economics course taught over 9 years using both formats is used for the analysis. For a sample of 81 students, variables of grade point average, number of credit hours taken, verbal SAT score, gender, course format, and major were used to predict final score in the course. Results indicate that online students performed better than face-to-face students at a marginal significance level. Online students were 2% less likely to earn a D in the course, and 15% less likely to earn a C in the course than their face-to-face counterparts. Online students were 8% more likely to earn a B in the course and 9% more likely to earn an A in the course than face-to-face students.