The article offers an analysis of the social well-being of Kazakhstani student youth during the pandemic. Based on materials of research in Kazakhstan in 2019–2021 it has been found that the level of student satisfaction depends on the degree of social optimism/pessimism and well-being of society showing signs of instability. Over the past three years, high levels of social well-being are correlated with students who are confident about their future. The study also revealed a low assessment of social well-being by students experiencing material and psychological difficulties, as well as lacking social integration. Low assessment is also associated with fear of more long-lasting impact of the crisis. Particular attention in this study is paid to the issues of changing the social well-being of students and assessing the nature of social expectations, the possibility of certain problems in the near future, fears and confidence/uncertainty in the future and rethinking the social goals of young people before and after the COVID-19 pandemics.