Virtual learning is not for every student, but it's not science fiction, either. Right now in Michigan, it's being used by thousands of students in hundreds of virtual courses in urban, rural and suburban school districts. In fact, Michigan has been seen as a national leader in virtual learning. This study analyzes the financial costs and academic benefits of virtual learning, and it explores how this innovation could further benefit Michigan public school students. (Contains 105 footnotes.) [This paper was written with assistance from Michael Horn, Beverly Knox-Pipes, Bethany Rayl, Dan Schultz, Heather Staker, Thomas Svitkovich, and Tom Watkins.]