Purpose: The purpose of this paper is to analyse the influence of image on student satisfaction and loyalty. Design/methodology/approach: In order to accomplish the objectives proposed, a model reflecting the influence of image on student satisfaction and loyalty is applied. The model is tested through use of structural equations and the final sample is of 2,687 students. Findings: The model shows that image is the construct that most influences student satisfaction. The influence of image is also relevant on student loyalty. Research limitations/implications: In this paper, the constructs of image resulted in a reliability level of 0.846; future research is needed in order to find more reliable image measurement indicators. Practical implications: If higher education institutions have to compete through image, the first step to take is to measure the university image held by its students. It is proven by this paper that the construct which most influences student satisfaction in higher education is the image construct, with a total effect of 0.86. Thus, if the institutional image rises or falls by a unit in terms of valorisation, satisfaction increases or diminishes by a proportion of 0.86 and loyalty by a proportion of 0.73. Originality/value: Several studies have shown that, in general, corporate image is important to attract and retain customers. This paper depicts the specific influences of image specifically on student satisfaction and student loyalty and also the respective level of influence. (Contains 3 figures and 4 tables.)