Where would you go?
 

We will be taking an online class for 2 months next summer and studying few hours every day. High speed internet is critical. Beach, scuba, surfing, and affordability are a dream. Airfare will be covered with miles no matter where we go. Any ideas or advise would be greatly appreciated.

I would suggest you research Phuket, and as a second choice the Philippines. I'm no expert on scuba or surfing but the beaches and affordability seem to fit your request.

Define high speed.
If you can make do with 1-5mbps (depending on location) then I would second the Philippines but my second choice for scuba would probably be Malaysia.

Problem is though there are a lot of really good scuba places in Asia BUT most of the really good places have little to no internet (that I have been to anyway).

There are lots of good surfing area for Beginner – Intermediate – Advanced surfers. here is a little option for your preferred getaway.

...

http://surfingphilippines.com/surf-spots/