As the Internet spreads into every corner of our lives, the paradigm of education has changed. With this change, many educational institutions, including universities and companies formed a consortia to provide cyber-education. Currently there are 9 such institutions that are approved by the Korean government to grant degrees to the qualified learners. But, the educational environment of them seems to be in bad shape, the quality of education is questionable. So, in this paper we first surveyed the literature to determine the potential factors that affect the effectiveness of cyber-education and then we analyzed the questionnaire prepared to investigate the relationship between those factors and effectiveness. We hope the findings from this study provide some insights into how the effectiveness of cyber-education can be strengthened.