Answers:
A high school diploma is better than a GED. You get more money for a high school diploma. You should go for Penn Foster. I am doing Penn Foster at home due to not being able to go to traditional high school.
If age is a concern, which I am sure it is with you and the school, the next best option is a GED. With that you can go on to a Junior/Community College. In fact, some Jr. Colleges may only have an 18 years old or older requirement. While there, you can get an Associates Degree, or better yet, transfer to a 4-year university for a Bachelors Degree.
It's great that you want to go back to school!
Best of luck!
If you're asking about going to high school and actually going through it...it is better for someone to go through high school. Socially a child/teenager will develop better than just sitting at home or working. That person will build better ties to a community and have better trial and error experiences.
A high school diploma is what a public or private school bestows on you after you complete the requirements for high school graduation (generally completed in grades 9-12, although some work hard and graduate "early"). A GED (or General Equivalency Diploma) is what you get if you don't complete the coursework necessary for a public or private school to issue you a diploma.
Correspondence or distance learning centers (such as Penn Foster) allow you to complete your coursework and receive a diploma.
Generally, employers hold a diploma in higher regard than a GED because it says you stayed in school and completed the work. A GED is considered the "easy way out". However, for college, many community and junior colleges don't "require" either, as they will make you complete their "placement" testing prior to enrollment.
So, depending on your purpose, a GED can be just as good as a high school diploma, although it may be that neither is necessary. My husband never got either and holds two Bachelor's degrees and a Master's degree.
BTW - some states have free virtual schools that will allow you to enroll in computer-based courses to complete your high school diploma on-line. Generally, you need to be 21 or younger, so if you are, this may be the route to take for a HS diploma.
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