For a period of 6 years, the course retention rate for Marylhurst University's (MU) online courses was 91%, which is within four percentage points of its on-campus course retention rate (Schreck, 2001). This grounded theory, web-based, research study aims to explicate the reasons why MU online students complete courses at high rates and develop this understanding into an online student retention model. A grounded theory approach was used to conduct this study, which is described by Creswell (2002) as, "a systematic, qualitative procedure used to generate a theory that explains, at a broad conceptual level, a process, an action, or interaction about a substantive topic" (p. 439).