Online education has definitely moved into higher education with new programs being added continuously. How can institutions ensure that they are offering quality programs? A vital source of information should come from the students who participated in this study. The purpose of this study was to gain insights into graduate students' perceptions regarding online learning. Two-hundred forty-nine (249) graduate students were surveyed to identify positive components that led to their satisfaction and perceived challenges that inhibited it. Findings from the study indicated that interaction, between students and with the instructor has a major impact on their satisfaction. Other challenges identified were sufficient learner support that linked to campus resources, and the need for varying instructional design and delivery to facilitate students' desire to learn. In contrast, students were highly satisfied with the clarity and organization of instruction using sufficient resources. The instructor's role was identified as being vitally important to students' satisfaction.