This research is a narrative critical literature review of the use of the PsyCap (psychological capital) model to study online university students' learning experiences in order to understand their persistence. PsyCap (Hope, Efficacy, Resilience and Optimism, abbreviated as HERO) has been proven an effective model of understanding the intrinsic characteristics that motivate working adults to persist in workplace excellence. Prior to the 2020 COVID-19 pandemic, working adults comprised the majority of the online university student population. Online programmes were formed and developed predominantly to serve their needs, yet these students struggle to persist and succeed. The PsyCap model used to understand their success in the workplace is underutilised in studying their success as online learners. Students' individual needs and expectations have transitioned from the baby boomer generational cohort to millennials and now entering Generation Z. This article synthesises the cross-section of literature canvassing online education, student generational cohort transitions and the use of the PsyCap model up to the present era. Results reveal that the changing psychological capacity of university students warrants further research of the PsyCap model with relation to online university student persistence.