Completion and cost data for six courses delivered in two different modes--home study and paced package--through Athabasca University were analyzed. Students in a home study course received tutorial support via the telephone and progress through the course was at the discretion of each individual learner. Students in a paced package course received tutorial support via the classroom instructor and progress through the course was instructor-determined. Results indicated that completion rates were substantially higher for paced package courses than for home study courses. In addition, estimated costs per student completion were lower for paced package courses, with one exception. Although the study concluded that paced package courses were more efficient, the study did not recommend the elimination of home study courses but suggested changes that would make them more cost-efficient while still providing a service for those who may not have any other means of acquiring higher education. (Author/KC)