Purpose: This study takes its basis in job demands-resources (JD-R) and psychological resource theories to investigate the role of two personal factors -- psychological capital (PsyCap) and study crafting -- in the quality of university life of business students. Design/methodology/approach: A sample of 806 undergraduate business students in Vietnam was surveyed to collect data. Confirmatory factor analysis (CFA) was used to validate the measures and structural equation modeling (SEM) was employed to test the model and hypotheses. Findings: The results produced by SEM demonstrated that students' PsyCap had a positive effect on quality of university life. In addition, study crafting positively moderated the relationship between students' PsyCap and quality of university life. Practical implications: The study findings suggest that universities could complement higher performance standards of universities with efforts to enhance quality of university life by developing and nurturing students' PsyCap and study crafting, enabling students to rise to the challenge posed by higher standards. Originality/value: The study findings contribute to the literature on business education by confirming the overarching role that PsyCap plays in the quality of university life of students. Further, the study introduces the concept of study crafting and demonstrates that study crafting alone and in combination with PsyCap may help business students enjoy a higher quality of university life.