What is the capacity of online programs? Can these types of programs enroll more students than their face-to-face counterparts or not? This article looks at research on achieving cost-efficiencies through online learning, identifies the parts of an online program that can be changed to increase enrollments, and discusses whether a program's capacity can be conceptualized as limited, static, elastic, or infinite. Misconceptions that plague thinking about capacity issues are identified and a process for calculating program capacity is outlined.