The COVID-19 pandemic's influence on students' mental health is significant, with online learning offering unique challenges and prospects. This study investigates the antecedents of student psychological well-being within this context, focusing particularly on instrumental support from instructors, students' academic psychological capital (PsyCap), and school satisfaction. We surveyed Canadian tourism and hospitality students about their pandemic-era online learning experience, using Structural Equation Modeling (SEM) for data analysis. Our hypotheses were tested on a sample of 88 full-time students who had transitioned to online education, and our survey specifically asked about this online experience. Despite the small sample size, we utilized Partial Least Squares SEM (PLS-SEM), a technique well-suited for small sample sizes when using the SEM model, and confirmed the adequacy of our sample to ensure it met the minimum required sample size for PLS-SEM. Our findings reveal that instrumental support directly boosts students' academic PsyCap-encompassing confidence, hope, optimism, and resilience. While instrumental support does not directly enhance school satisfaction, its total effect, mediated through academic PsyCap, is significant. Additionally, while instrumental support does not directly heighten psychological well-being, the mediation role of academic PsyCap is crucial. Our study thus underscores the importance of nurturing academic PsyCap to foster student satisfaction and well-being in digital learning environments. Furthermore, we validate that academic PsyCap influences both school satisfaction and psychological well-being. As such, universities should consider investing in programs that How to cite this paper: