The purpose of this paper is to examine the relationship of good university governance, teaching quality of lecturers and student satisfaction. It also aims to examine the effect of learning facilities on good university governance and student satisfaction. 361 students of the Faculty of Economics, Semarang State University, were involved in this study using proportionate random sampling. Then, to gather the data, a questionnaire was distributed, and the data were analyzed by applying SEM-PLS. The results showed that good university governance, teaching quality of lecturers, and learning facilities had a positive and significant effect on student satisfaction. The teaching quality of lecturers is proven to be influenced by good university governance. In addition, learning facilities also have a significant effect on good university governance.