Online learning can broaden access to education; however, it might pose challenges for students at risk of exclusion (i.e., first-generation, low-income, disabled, rural origin, or ethnic minority students) who often lack the minimum learning resources. As online learning continues expanding, this study aims to understand students' views regarding critical aspects of students' learning experience, including inclusion, efficiency, grade impacts, and efforts. We employed a mixed methods study based on a survey and focus groups with college students in a large, well-known Latin American university in Chile that delivered online instruction for multiple semesters. Regression analyses of survey responses from undergraduate students indicate that students at risk of exclusion did not perceive the online learning environment to be more challenging than those not at risk. Students at risk of exclusion, however, were more likely than students not at risk to express a need to study more to achieve good grades, potentially to mitigate any challenges associated with the COVID-19 pandemic on academic performance. Focus group evidence indicates that while some students faced mental/emotional health issues negatively affecting learning, other students rapidly adapted their studying practices, which had positive impacts on learning.