Emotional intelligence and educational level are commonly associated with success in life and well-being. While multiple studies have explored these concepts independently, few studies have examined the impact of educational level on emotional intelligence and associated variables, such as well-being. A total of N = 202 participants were recruited online. Participants completed measures of emotional intelligence, well-being (i.e., happiness, self-esteem, personal growth). Overall, participants who previously obtained a bachelor’s degree displayed higher levels of emotional intelligence, happiness, self-esteem, and personal growth compared to those without an undergraduate degree. However, no differences were observed on any variable between individuals currently enrolled in a university and non-students. The results suggest that, while completing a university degree increases emotional intelligence and well-being, the stress of being a student may negatively impact the benefits obtained from attending university. Limitations and possible directions for future research are discussed.