In accordance with the importance of the student stakeholder to universities, the objective of this research project was to evaluate student satisfaction at Portuguese public universities as regards their self-expressed core expectations. The research was based both on stakeholder theory itself and on previous studies of university stakeholders. The empirical study began with an exploratory study of students at one university to identify their demands, resulting in 25 indicators. These were the basis of a quantitative study, involving students at 11 Portuguese public universities. We received a total of 1669 correctly filled out online surveys. Data analysis deployed descriptive statistics and multiple linear regression. We conclude that the level of course requirements, enhanced student value in the employment market, personal student self-fulfilment, the university's environment, motivating lessons and university bureaucratic processes are the key demands strengthening and deepening student satisfaction with both their course of study and the university. Therefore, these factors should receive priority attention from university management.