Studying online lets you learn without having to worry about your classmates interfering with you. It gives you a peaceful quiet place to study. In fact it could be argued that studying online is better than studying in the classroom. Studying online also gives you quick access to resources that can enhance the overall learning experience.
There are a lot more distractions online so it's easy to steer away from studying and waste your time upon other things, but if it's used properly the internet is a fantastic resource that can teach as well if not better than in a classroom. The matter is, again, if the student actually uses it to try to learn.
Learning and studying in school is an experience. We all have different ways of learning and taking in knowledge, but studying in school is something that is timeless and cannot be reciprocated by sitting in front of a computer.
Being in a physical school is something of its own already. Interacting with professors and teachers as well as students is essential to human growth and learning. Interaction and socializing is a form of education and cannot be mimicked through flashing lights and screens.
Studying online does not have the same result as face to face interaction. It is harder to be engaged when studying online. It is also easier to engage in distractions as nobody can watch and see that you are becoming distracted. Studying in class allows other participants to reinforce good studying behavior.
It is not possible to learn as much from the Internet as in a real classroom. In a real classroom environment, the teacher can interact with students and can measure their understanding. Classes conducted online with cameras are not as personal, and it is too easy for students to get distracted.
Studying online is very beneficial because it allows busy people to fit in learning when they can and promote their education on their own terms. With that being said, it is not the same as studying in a class where you can get immediate feedback and can interact with other students.