Many working professionals and parents enroll in online degree programs because of their flexible scheduling options. Some web-based institutions offer generous financial aid to help busy individuals pursue a higher education.

For example, Lisa Welch, who is working toward an online bachelor's degree, was recently awarded with a full-tuition scholarship from a for-profit program. Welch won the national Project Working Mom award after writing an essay describing the hardships she faced in trying to balance a career, parenting responsibilities and school.

The college fielded more than 70,000 submissions and awarded 50 full-tuition grants for the most deserving scholars. Welch said that the scholarship is one of the greatest gifts she has ever received because it allows her to raise her children and work while taking online college courses for free.

She added that working from home has allowed her to expose her kids to the benefits of online degree classes, which they may prefer once they reach adulthood.

Many campus-based institutions have added web programs in an effort to attract more students. According to the website of an Indiana-based college, Kathy Miley - a mother of six children - earned an online master's degree in nursing. She said that the schedule allowed her to complete her schoolwork at night after her children went to bed.