Who has tried Distance Education?

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Hi guys, who among you guys have tried getting a degree through distance education? I am seriously contemplating this... i think it will be a good investment. one of the benefits -- most important of which -- is being able to finish a degree at your own pace. you can still keep your 8 hour job while studying. my only concern is that companies might not be acknowledging diplomas coming from distance educational institution.. could this be true? can anyone help?