The article focuses on the study of the features of psychological well-being in healthy students and students with disabilities. It was assumed that self-assessment of psychological well-being in students with disabilities and healthy students differs in structure and content. The study involved 167 students, 98 with normative development and 67 with various types of disabilities (hearing, vision impairments etc.). The survey was conducted on the basis of Russian State Specialized Academy of Arts (RSSAA) with students of all faculties (theater, music, fine arts). We used the following techniques: the life satisfaction scale and the subjective happiness scale. It is shown that the perception of psychological well-being among students of the inclusive university is more differentiated. The assessment of psychological well-being is based on three parameters: 'life satisfaction in general'; 'life optimism, self- realization - satisfaction with the past'; 'assessing oneself as happier than one's peers'. Self-assessment of psychological well-being is based on the time dynamics of life's journey: a retrospective view of one's life and its perception from the point of view of future prospects. © 2020 LLC Ecological Help. All rights reserved.