This paper reports the results of a study of college students in the US that examined specific learner characteristics affecting satisfaction with e-learning courses. It finds that satisfaction is largely governed by the degree to which one is confident in one’s ability to regulate the factors that influence course work and one’s goals in taking them. These goals can be both in terms of grades and results or a perception that the course has added value to their education experience. The findings suggest that not all people are suited to e-learning and institutions need to find ways to identify and encourage efficacious characteristics in the students. It also has some implications for those offering IS courses online.