An exploratory study using a questionnaire was conducted among 597 full-time enrolled online students and 53 full-time online faculty teaching at a private university in the Southwest. Results are presented in frequency tables and participant feedback to compare differences and similarities of instructor and student perceptions of reasons for late assignment submission, late point policy, and leniency within an online learning environment. Differences in perception between student and faculty participants are noted. Further inquiry into the impact late assignment submissions, late point policies and instructor leniency have on student success rates, satisfaction, and persistence is warranted.