This paper presents a study of factors influencing students' perceived learning in a World Wide Web-based course environment. Qualitative and quantitative methods were employed in the process of data collection and analysis. Results indicated that percent of grade weight on discussion and instructor's specification of requirements of students' contributions in discussion were significantly and positively correlated to students' perceived amount of learning. Although level of instructor's participation was not significantly correlated with students' perceived amount of learning, it had a significant correlation with level of students' participation. These findings indicated that students' perceptions of learning in Web-based courses varied positively with the degree of instructional emphasis on learning through interaction. They seemed congruent with the constructivist view that students learn better through social construction of meaning and that, in a constructive environment, the instructor's role has transformed from an authoritative figure into a facilitator providing scaffolding and support during the learning process. Several tables and charts present data. Appendices include a list of SLN (State University of New York Learning Network) Web-based courses, survey questions selected for the correlational analysis, and a table of demographic variables and students' perceptions of the learning experience. (Author/AEF)