I did Distance Education. (I'm tired, so I may not provide you with a very clear description lol).
Every semester, you will receive a workbook for each subject (in conjunction with an external text book). Every week, you have to submit a week's worth of work (for each subject), in which you will complete varying amounts of reading, questions, essays etc.
You can view examples of how distance ed booklets are set out for each subject here:
http://www.distance.vic.edu.au/subschools/ss1112.htm#subjects (probably more useful than my explanation.)
I did Distance Ed whilst I was sick, so obviously my experiences are going to be different to an individual who's able to attend full time school and is doing one subject through DECV.
Pros of DECV:
-Can work at your own pace. If you don’t understand a concept, you can sit there and read over it until you get it (which you can’t really do in classes.)
-DECV booklets have extensive information in them, and all your class notes are right in front of you (good for people who'd rather read than listen to someone.)
-Some of the teachers can be absolutely fantastic.
-The course is structured well
-Good if you are organised.
-I felt like I was achieving and learning a lot through DECV.
Cons of DECV:
-No class discussion.
-Not good for people who aren't very organised.
-The amount of work can be huge and stressful.
-A detached way of learning. You need to phone your teacher to ask them a question, and it can take days to get an answer.
-According to my friends, if you are doing DECV + normal school, your DECV subject can fall through the cracks. A lot of my friends have had to drop their DECV subject because they were busy with their school subjects.
-No class time to work.
It also depends on the subject you are planning to do through DECV. Some are structured better than others, easier to complete by yourself and have better teachers. What subject are you planning on doing?