Previous research revealed that students who are overestimated in their ability by their teachers experience school more positively than underestimated students. In the present study, we compared the socio-emotional experiences of N = 1516 students whose cognitive abilities were overestimated, accurately judged, or underestimated by their teachers. We applied propensity score matching using students' cognitive ability, gender, language, parental education, and teacher's acquaintance with them as covariates for building the three student groups. Matching students on these variables, reduced the original sample size to subsamples with n[subscript 1] = 348, and n[subscript 2] = 312 with exact matching including classroom. We compared overestimated, accurately judged, or underestimated students in both matching samples in their socio-emotional profiles (comprised of academic self-concept, joy of learning, attitude towards school, willingness to make an effort, social integration, perceived class climate, and feeling of being accepted by the teacher) by linear discriminant analyses. Groups significantly differed in their profiles. Overestimated students had the most positive socio-emotional experiences of school, followed by accurately judged students. Underestimated students experienced school most negatively. Differences in experiences were most pronounced for the learning environment (medium to large effects for academic self-concept, joy of learning, and willingness to make an effort; negligible effect for attitude towards school) and less for the social environment (medium effects for feeling of being accepted by the teacher; negligible effects for social integration and perceived class climate).