The purpose of this paper is to identify the most affecting factor for the student satisfaction of higher education in Sri Lankan universities and introduce a conceptual model of student satisfaction with their higher education (HE) experience, based on the identification of the variable determinants of student perceived quality.  The quality of the university facilities is a dominating factor for student satisfaction. University image has not gained more attention on student satisfaction in the current studies. The quality of the academic staff and non-academic staff must immediately improve to maintain student satisfaction at a higher level. At the same time, facilities of the lecture rooms, laboratories, library, internet, and other drinking water and sanitary facilities must immediately improve to enhance student satisfaction.