This paper analyzes the factors associated with student satisfaction in a sample of undergraduate students from the University of Zaragoza (Spain). In addition to considering socio-demographic characteristics, we also examine factors related to expectations and motivations. Using data from a survey carried out during the academic year 2011/2012, we show that the level of satisfaction of the students varies according to their field of study, finding that students in Engineering and Science are comparatively less satisfied than those in other disciplines. Also, expectations about whether having a university degree will be enough to obtain a job are associated with their level of satisfaction. Moreover, alcohol consumption is positively associated with their level of satisfaction. Analyzing the correlates of student satisfaction is important to understand student retention and persistenc