While there is a large number of research work performed on presenting different factors influencing students’ satisfaction with Higher Education institutions, there is a need to combine all these efforts and provide a comprehensive framework of challenges and factors influencing the students’ satisfaction in face-to-face and online learning environments. Such frameworks would provide researchers and academic institutions a better picture of the interest of students. This paper is an effort towards understanding the determinants of students’ satisfaction with higher education institutions in face-to-face and online learning environments. In this paper, we review the literature, tabulate, and summarize predominant factors influencing students’ satisfaction in online learning and face-to-face learning. We also identify and discuss challenges faced by students that affect their satisfaction levels in higher education learning.