The purpose of this study was to evaluate graduate students' perceptions of a completely online master's degree program in special education for emotional and behavioral disorders. The Community of Inquiry survey was used to examine graduate students' perceptions of the online program in the areas of teaching, cognitive, and social presences. The results suggest that teaching and cognitive presence can be addressed with a high level of satisfaction in an online program. Activities related to creating a social presence within an online program may need additional attention. Given the limited amount of research on how to evaluate online teacher preparation programs, the findings from this study provide a starting point for determining the effectiveness of online programs in education.