It is important with cf to keep healthy, as all of us know. If we are working full time, going to school full time is not always a practical decision (depending on our health status). That being said, online courses do at least offer an opportunity to better ourselves, and possible move into a different career. The validity of an online college is something that will likely be contested by some, and embraced by others, for a long time. Like dcgal says, look at regional accreditation, that is the important aspect. Will online stack up to some of the big name colleges, possibly not, but it is still a lot better than no education at all. Also, as someone said, some places look at online as a good thing. It shows a dedication and self organization that you don't get when someone makes a schedule for you. Worst case scenario? You get a degree that still places you at an advantage to those without a degree.
I have completed 36 credits online. The first few classes were a breaze. I had some with actual tests too, and no.. you can't cheat on them very easily. The amount of work that is given online (at least where I go) is tremendous. My girlfriend goes to a traditional school ft, I go online ft. I generally have a lot more homework than she. There is always the exception, this semester she had a few classes that were homework intensive, easily matching me, last semester I had a ton more homework than her though.
Just some thoughts.
good luck