Drastic social and economic environment changes during the past few years have led to a structural change in population structure. With one of the lowest birthrate in the world, universities in Taiwan are facing a severe problem in student recruitment. This problem is worsen with expansion policy in tertiary education in which the numbers of universities in Taiwan increased tremendously during the past decade. Student recruitment and student loyalty are crucial for the survival of many universities in Taiwan. The purpose of this study is to utilize Thorsten Hennig-Thurau’s RQSL model in order to investigate factors affecting student loyalty in Taiwan and Thailand. Thailand's education system is similar to Taiwan, therefore, the University of Thailand for the comparison object. A total of 932 questionnaires were distributed to university students in central Taiwan and in Thailand. The results of structural equation modeling indicate that the educational institution’s service quality and emotional commitment have significant effects on student loyalty. And the students’ trust, emotional commitment has significant effects on emotional commitment.