This article investigates the psychological well-being of students from all faculties across their undergraduate degree from pre-registration to semester two of year three at one UK university. Data were collected on seven occasions, with 66% of students who began their studies between 2000 and 2002 taking part in the project. Psychological well-being was assessed using the General Population Clinical Outcomes in Routine Evaluation (GP-CORE). Results show that greater strain is placed on well-being once students start university compared to pre-university levels. Levels of strain are generally highest during semester one, with significant reduction in levels of distress from semester one to semester two being observed in both year one and year three. At no time did levels of distress fall to pre-registration levels. Given these results show university to be a time of heightened distress, there is a need to ensure that students receive the support necessary throughout their studies to enable them to successfully complete their degree course, enabling them to negotiate the transition to university and then ultimately into the workforce. (Contains 3 tables and 2 figures.)