This study compares the costs of a school-based online credit recovery model to more traditional teacher-directed credit recovery using rigorous cost analysis methods. Findings indicate that differences in the comprehensive costs for online and teacher-directed credit recovery classes are small. However, cost differences across the two models of specific types of resources are substantial and statistically significant. Online credit recovery classes resulted in higher district-incurred costs largely due to the purchase of online curricula and required technology. The online model incurred lower opportunity costs to teachers stemming from less out-of-class time devoted to grading, lesson planning, and developing course materials.