Students' satisfaction is a current issue and there are manyreasons why is it so. One of the reasons is that colleges want to discover what it is that affects the satisfaction of students in order to attract new students. Furthermore, the working environment is nowadays very dynamic so the purpose of the research is to give an answer what can Universities do to obtain a better workforce. Also, the research seeks to answer whether students should be observed through the prism of student-customer model. In this paper, the research was conducted through a questionnaire in order to examine which factors affect student satisfaction. Seven hypotheses were set. Two of them determine the extent to which variables have a direct impact on students' satisfaction and one of them measures how does the level of housing satisfaction efects overall sudent satisfaction. Then the extent of how life satisfaction affects the students' satisfaction with student life, and whether there is a connection between student satisfaction and performance. Also, we studied the influence of multiculture to the satisfaction with the faculty. The study was conducted on a sample of 150 respondents. The questionnaire contained questions with multiple choiceand Likert scale with five degrees. The research results have been obtained using Pearson linear correlation coefficient whitch is the most representative test regard to the hypotheses. It was found that all factors are affecting student life satisfaction and thatsatisfaction of student life affects performances. Based on the results, it can be concluded that the Department of Economics in Aveiro, Portugal should keep current direction but with improvement of technical items.