Quality of life is one of essential determinants of social connecting, preferences and existence of the young. It is an integral factor which should be held in estimation when studying the development of contemporary environment of students' population. It is important to point out that the period of study is specific with numerous challenges and opportunities for a young person. So far, only few studies in our surroundings focused on valorizing the quality of life of students. The research conducted on a sample of 568 students from Novi Sad and Subotica was aimed at estimating metric characteristics of a modified version of the WHOQUL-BREF scale for estimating students' perceptions of their quality of life (PQL-S). The scale metric was tested by two procedures: (1) examination of its internal compatibility, where it was determined that the scale has, on the whole, satisfactory internal compatibility (Krombach' Alpha = 0,903) as well as individual domains/subscales (physical health - 0.868; mental health - 0.634; social relationships = 0.790 and environment = 0.752); (2) validity check based on the coefficient of internal correlation scale where the Spearman's rank correlation showed high values. In order to identify latent structures of quality of life we used the factor analysis. Based on the analysis of main components it was determined that all 26 scale variables gave acceptable weight to the extracted factors which additionally confirmed that the PQL-S has adequate validity. Considering good metric characteristics, obtained in this study, the PQL-S can be recommended as an applicable multi-item scale.