In the present age of stress and strain, the science of well-being tries to focuses on what makes an individual flourish. It studies how human assets rather than deficits are contributing toward goodness of an individual, as a promising new area of research. Advances in understanding the behavioral, biological, and social pathways to well-being will benefit individuals, organizations, and society. The life of individuals particularly the students in their schools, coming from different places of living, needs to be studied to have the vision of influence on psychological well-being of students. The study was carried on a sample of 519 senior secondary school students from different senior secondary schools of Kulgam and Anantnag districts of Kashmir valley. The sample was drawn by using multi stage stratified sampling technique. The data obtained from these students were then analyzed by using appropriate statistical techniques with the help of SPSS version 22. The paper analyzes the influence of the school environment and the effect of place of living and type of school on the psychological well-being of senior secondary school students. It also makes some suggestions, keeping the findings of the study in mind to enhance the psychological well being of our budding human resource.