The aim of this study was to verify the relationship between the service marketing mix and satisfaction and between satisfaction and loyalty in the perception of the students in a Higher Education Institution (HEI) of the third sector. When considering the multiple simultaneous relations between the observable and latent variables, the statistical technique opted was modeling structural equations. Data were collected through printed questionnaires and the final sample included 827 respondents from an IES, belonging to the Associação Catarinense das Fundações Educacionais (ACAFE). The main results partially support the hypothesis that there is a positive and significant relationship between the compound of the marketing mix and satisfaction and between satisfaction and loyalty. In complementarity, it is possible to point out that the aspects related to the course options and the physical structure in which they will be offered, together with their perceived quality, are requirements considered fundamental in students' perceptions.