NY Times takes a look at booming "virtual charter schools." Low overhead, low accountability, same amount of funding as regular schools with gyms, libraries, labs, etc. An expert is quoted as saying, "It doesn't add up."
Actually, I'd guess it adds up to quite a nice profit for the private outfits that are peddling the program. Remember Bill Bennett, the gambling values maven who was prime mover behind the virtual incursion in Arkansas?