In this paper, I present and discuss the findings of an intentional and systematic inquiry into the learning motivation of university master's students taking the same course in online and classroom-based formats during the COVID-19 pandemic. Through capturing the students' motivation using Keller's Instructional Materials Motivation Survey at two points during the semester and analyzing the students' course evaluations and the reflective reports of tutors, I uncover various factors influencing students' motivation. Among these are the structuredness of instructions, technical difficulties, perceived effort of the teachers, novelty of tools, and the social relationships between students. I conclude my discussion with a proposition for designing motivating blends for online higher education students.