Many of the universities in Korea recently is changing the school policy oriented from the supply approach to the demand as the case of business companies. Customer orientation is the key point of the customer satisfaction. But there are few studies focused on the satisfaction of students as a customer. In this paper, we studied the components of satisfaction in university life, the factors affecting on the satisfaction of students, and the relationship among them. The principal components of satisfaction in university life are services related to the activities of students, the utilization of welfare facilities, curriculum, the adminstration on students, and the department office. Factors affecting on the satisfaction of students are expectation, pride, self evaluation on learning, and special activities. Demographic variables, for example, sex, grade, colleges, and so on are also important factors. We also found the fact that the pride was the most important factor, and it gives positive drive on the satisfaction of students in university life. It gives us the important implication to the school policy.