The COVID-19 pandemic has had global effects on all industries and on people around the world. The COVID-19 pandemic has had repercussions both politically and economically, as well as on society and the individual, i.e., on the human psyche. Although the effects on the human psyche have been highlighted in research, the well-being of the individual in correlation with social perception have not been addressed in this context but in different situations. The review of the relevant literature has also identified a knowledge gap concerning online vs. face-to-face learning, from the perspective of psychological, pedagogical and managerial factors. The present study aims to address the relationship of well-being—social perception—academic performance during the COVID-19 pandemic on a group of students from the Faculty of Engineering in Sibiu, Romania. Three types of instruments were used to evaluate the studied characteristics: the Warwick Edinburgh Mental Well-being Scale (WEMWBS), the SKS method for generating feedback and the grid for assessing knowledge. The results showed the increase of the three parameters studied, after quarantine. The conclusions of the research are that, despite the greater variation in mood, caused by stress, anxiety and tension, the well-being of the subjects increased and the positive feedback provided increased significantly. The results lead to the formation of a positive self-image of students, which also has an impact on learning outcomes.