Distance education is a formal learning activity, which occurs when students and instructors are separated by geographic distance or by time. Learning is supported by communications technology such as television, videotape, computers, e-mail, and mail. Online learning is any learning experience or environment that relies upon the Internet/World Wide Web (WWW or Web) as the primary delivery mode of communication and presentation. There are potential benefits of investing in online learning for example, increased access, improved quality of learning, better preparation of students for a knowledge-based society, "lifelong" learning opportunity, profit making, and many more. Limitations are also evident in this popular learning environment. Among them are: (a) online learning start-up funding, (b) organizational preparedness, and (c) student readiness. This article will review the benefits and limitations of online learning from three perspectives namely, (a) the student, (b) the instructor, and (c) the tenured faculty (faculty offering the programme).