Online learners provide feedback that does not always match with the expectations of what university administration would expect from their feedback. Learners do not value all instructional features and conditions equally, nor do they view many of the instructional and technology features as being necessarily helpful. This paper presents research on online learner perceptions and suggests that learner-valued online course features relate more to instructor interaction, timeliness, and quality of feedback than to other factors, such as course features or interactive technologies. Learner self-regulation is also discussed as a necessary ingredient of student participation that can be encouraged so that communication and social presence can be nurtured. These factors, together with quality instructor feedback and interaction can contribute to effective learning strategies for successful student completion of online courses.