Going to college... on the Web. I'm Fred Fishkin with Bloomberg Bootcamp. It's a 25 year old university that started with campuses scattered around the country. Now there are 90 campuses in all that are part of the University of Phoenix, aimed primarily at people who are already in the workforce. And increasing numbers of students are opting to do their coursework over the Internet...

"We just are at, right around twenty one thousand students who are doing either a bachelors, masters or doctoral program, fully in an online setting."

That's about quarter of the entire student body, according to university Chief Operating Officer Brian Mueller. The name of the school is derived from the mythological bird rising from the ashes and not the city. When it comes to taking college coursework online, there are skeptics... but Mueller says the advantages are pretty clear... .

"You can access the classroom seven days a week, twenty four hours a day from anywhere you are in the world as long as you have connectivity to the Internet."

Surprisingly, instead of costing less, the online tuition is about 15 percent higher. Mueller says the technology investment is substantial and...

A considerable amount has to be invested in training faculty members so that they can be effective in teaching in this environment."

Undergraduate tuition runs about four hundred dollars per credit hour. You can find more information at UnversityofPhoenix.com. Bootcamp, I'm Fred Fishkin, Bloomberg Radio.