In this study, we used Lent's (2004) social cognitive model of well being to examine the academic and life satisfaction of 457 Mexican American college students attending a Hispanic-Serving Institution. Using structural equation modeling, results indicated that the model provided a good fit to the data. Specifically, we found positive relations from positive affect to enculturation, acculturation, college self-efficacy, academic satisfaction, and life satisfaction; from enculturation to college self-efficacy; from acculturation to college self-efficacy and college outcome expectations; from college self-efficacy to college outcome expectations, academic goal progress, academic satisfaction, and life satisfaction; from college outcome expectations to academic satisfaction; from academic goal progress to academic and life satisfaction; and from academic satisfaction to life satisfaction. Findings indicated the model was invariant across gender groups, and overall, 38% and 14% of the variance in academic satisfaction and life satisfaction, respectively, were explained by the predictor variables. Implications for research and practice are discussed.