Since online degrees are such a new trend there really is no teling which one would be better in the long run. They're supposed to be equal, right?
I think it all comes down to student experience and the quality of the education. It also largely depends on what kind of learner you are. If you are one who learns visually (i.e. by reading, looking at charts, etc.) then an online degree might be the right choice. Especially if your life is already jam-packed with activities. However, if you're the type of student who learns by discussion and experience, then online college might not be right for you and in fact could prove to be to very frustrating.
Some colleges offer both online classes and traditional classes now, which is ideal for a lot of students.
If it's not a degree you're after, you could always take an online class from somewhere like Examville.com, where it's cheaper by far than through a university. If you decide to go for a degree later, then at least you have that experience to look at later and decide what the right decision might be.