Subjective well-being is defined as a person's cognitive and affective evaluations of his or her life. This study aims to investigate the differences in the domains of subjective well-being based on gender, type of school, and academic performance. Additionally, the study aimed to determine the factors (socio-demographic variables, including the academic performance of the students) that are predictive of subjective well-being. Subjective well-being was assessed using a questionnaire which included the Satisfaction with Life Scale (SWLS), which measured the respondent's life satisfaction, the Scale of Positive and Negative Experience (SPANE), which consisted of six positive and negative emotions, and, lastly, the Flourishing Scale (FS), which measured the respondents' self-perceived success. Data were collected, transformed into a linear scale, and exported into SPSS version 24, where t-tests, one-way analysis of variance, Pearson correlation, and stepwise regression were performed. Of the total of 535 participants, the majority were females (383 = 71.6%) and studying in a school of medicine (31.8%). With respect to the SWLS and FS, a significant difference was reported among students based on the type of school and their academic performance (p < 0.05). While comparing the differences in the SPANE, a significant difference was recorded based on academic performance. Among the domains of subjective well-being, only the SPANE showed a significant association with academic performance. Greater subjective well-being correlates with higher academic performance, indicating that subjective well-being is an important aspect of a student's academic life; provisions can be made by paying more attention to those who showed poor academic performance during and at the end of each semester.