The past ten years have witnessed a tremendous increase in the number of online courses, and the COVID-19 pandemic suddenly accelerated online education. Many students and instructors were unprepared for online learning. In particular, online learners are expected to employ self-directed learning (SDL) skills to succeed. This qualitative study examined students' SDL strategies and satisfaction in online courses. The researchers conducted semi-structured interviews with 15 graduate students taking online courses and analyzed the data using thematic analysis. The results provide several important insights. First, students' entering motivation (e.g., interest in knowledge acquisition, the value of the course) and task motivation strategies (e.g., teaching presence, engaging in the course) played important roles in students' SDL. Second, students employed diverse cognitive (e.g., critical reading, information seeking) and metacognitive strategies (e.g., reflection, assignments) to monitor their learning. Third, students leveraged time-management and resource management strategies (e.g., making specific schedules). Fourth, students' satisfaction depended on the course design (e.g., well-structured organization) and instructional approaches (e.g., teaching presence). The implications of the study for online instructors and instructional designers are discussed.