This study examined university students’ perceptions of inequality, relationships and power following the COVID-19 outbreak. We used a qualitative research method, inductive content analysis (ICA), to analyse their perceptions of inequality in their personal life, insiders and outsiders that show superiority in relationships and people with strong and weak characteristics of power structures. We extracted superordinate concepts, such as those in the individual, interaction and social/environmental dimensions, as the perceptions of inequality, insiders and outsiders and people with strong and weak characteristics. First, we found that university students experience inequalities when they perceive that individuals must cope independently with changes brought about by COVID-19. Second, the results showed that individuals can become insiders or outsiders depending on how they act during the COVID-19 pandemic. Finally, we demonstrated that strong individuals are less affected by COVID-19-related changes than weak individuals. Therefore, improving university students’ quality of life requires plans based on the students’ perceptions of inequality.