This study aims to reveal the reasons for students' success and failure based on their own perceptions. University students served as the participants of this study in which the phenomenological method was used. Data was collected with the listing questions, developed by the researcher, which took place in the semi-structured interview form. According to the results of the study, the factors that affect both success and failure the most are personal. In addition, findings suggest that success is a relative concept from one's personal perspective. It is thought that monitoring students and organizing both learning and sheltering environments, in accordance with their interests and needs after they are placed in university, will boost their success. Further studies may provide different perspectives by focusing on the reasons for success and failure based on the opinions of families and academics.