Universities are multifaceted institutions contributing to social, economic, and cultural advancement through education, research, and community engagement. The globalized and marketized higher education landscape has transformed the student experience; students are now considered active participants in value creation, and their satisfaction is paramount. The concept of a "happy university" emphasizes the importance of a positive learning environment for both individual and institutional growth. Quality of life and student well-being are closely intertwined, encompassing aspects of satisfaction, health, self-esteem, social relationships, and more. Prior research has focused largely on undergraduate students in health-related fields, with limited attention to business students, despite the unique challenges they face concerning financial well-being and career prospects. Previous research at Budapest Business University revealed that physical and family relations were vital for staff well-being. This study extends that research to business students, exploring their quality of life and learning-life balance with a particular focus on family influence. The research questions address the main factors impacting quality of life and learning-life balance, and the factors necessary for achieving that balance.

Existing literature defines quality of life as individuals' perceptions of their position in life, encompassing subjective well-being, living standards, and work-life balance. Models of quality of life for business employees often include physical and material states, psychological state, education, social relationships, self-expression, and safety. In the university context, academic success, responsibilities, social relationships, and family support are significant determinants. Studies have shown that general living conditions often outweigh university-specific factors in shaping students' quality of life, with family relationships being particularly influential. Family support, both financial and emotional, significantly impacts well-being. Furthermore, the impact of academic expectations and resources, such as instructor support and friendships, are consistently highlighted. The COVID-19 pandemic and lockdowns have negatively affected students' quality of life, particularly for women and those living alone with poor family relationships, causing increased mental health concerns. The learning-life balance for university students is closely linked to family responsibilities and the risk of burnout, a state of exhaustion resulting from excessive demands. Burnout is associated with physical and mental health symptoms, impacting academic performance and potentially leading to school dropout. Stress significantly negatively impacts quality of life and is linked to sleep problems and burnout. Studies have also indicated the role of factors like student work status, adverse childhood experiences, and socioeconomic status in influencing burnout risk. Optimism and a sense of belonging are identified as protective factors against burnout.

To investigate the quality of life and learning-life balance of business students, a questionnaire survey was conducted at Budapest Business University. The sample size was determined using Yamane's formula to ensure representativeness, aiming for at least 391 respondents from a population of approximately 18,000 students. An online questionnaire, based on the Akranavičiūtė and Ruževičius (2007) quality-of-life model with an added focus on family relations, was distributed to a randomly selected group of students enrolled in a compulsory course. The questionnaire included closed-ended questions using a 5-point Likert scale and a few open-ended questions to gather qualitative data. A pilot test was conducted to ensure clarity and understanding. The survey was conducted voluntarily and anonymously, adhering to ethical guidelines and GDPR regulations. Data analysis involved univariate and multivariate analyses, including ANOVA, T-test, correlation, logistic regression, and confirmatory factor analysis (CFA) using SPSS and AMOS software. The sample comprised 1188 students (31.8% male, 68.2% female) with an average age of 22.74 years. The response rate was 58.29%, and the maximum margin of error was estimated at 3.2% at the 95% confidence level. The study's hypotheses addressed the main factors influencing students' quality of life and learning-life balance, as well as the factors contributing to successful reconciliation of studies and personal life. Specific analyses were conducted to examine the influence of gender, grade level, and family ties on these factors.

The survey revealed that physical state, psychological state, and family relations were the most important aspects of quality of life for business students. These findings were statistically significant (p<0.05). Significant positive correlations were found between physical state and other factors, including psychological state, family relations, self-expression and leisure. Women consistently rated psychological state, physical state, and family relations as more important than men. Fifth-year students prioritized education and self-improvement more than other grade levels. Students with families placed more importance on family relations and physical state, while those without families prioritized self-expression and leisure. Regarding learning-life balance, overwork was significantly linked to stress and burnout (p<0.05). Increased academic expectations negatively impacted family relations and leisure time. Fifth-year students felt more strongly that increased expectations came at the expense of personal life. First and fourth-year students struggled more with balancing family life and university studies, and fourth-year students reported the highest levels of burnout. Family ties, but not gender, significantly affected the perception of academic workload and burnout risk. Analysis of the qualities contributing to successful learning-life balance identified four factors: emotional intelligence, conscientiousness, cooperation, and innovation. Gender was the only significant factor influencing the perception of these factors.

The findings highlight the importance of holistic student well-being, encompassing physical and mental health, and strong family support. These factors, especially psychological well-being, were particularly relevant given the context of the COVID-19 pandemic. The results challenge the assumption that academic success is the primary factor in student quality of life; in this study, it was a lower priority. The strong influence of gender underscores the need for gender-sensitive policies and interventions to support students. The findings emphasizing the importance of family relations indicate the value of family-friendly policies in universities. The link between workload, expectations, and burnout emphasizes the necessity of managing academic demands realistically to prevent negative consequences on students' well-being and academic performance. The identified four factors—emotional intelligence, conscientiousness, cooperation, and innovation—provide insights into the personal characteristics that contribute to successful learning-life balance. The lack of significant influence of grade level on these personal characteristics may suggest that these qualities are relatively consistent across the academic journey.

This study emphasizes the significant impact of physical and psychological well-being, and family support on the quality of life and learning-life balance for business students. Gender, grade level, and family ties significantly influence these factors. Strategies to support student well-being should address these aspects, including promoting physical and mental health resources, realistic expectations, and family-friendly policies. Further research could investigate the specific impact of the COVID-19 pandemic, explore the interplay between different factors in greater depth, and examine the long-term consequences of learning-life imbalances on career prospects and overall well-being.

The study's reliance on self-reported data through a questionnaire might introduce biases and limitations. The sample, while large and representative of the Budapest Business University student population, may not fully generalize to other institutions or business student populations globally. The cross-sectional nature of the study limits the ability to establish causal relationships between variables. Future studies might employ longitudinal designs or qualitative methods to gain a deeper understanding.