This study seeks to understand the perception of students about educational service quality through the application of the SERVQUAL model developed by Parasuraman et al., (1991) and adapted to the educational service by Boulding et al., (1992). The interviewed students, all graduating, were undergraduates from the Federal University of Pernambuco´s Business Administration Program. 70% of the questionnaires were validated and subsequetly used. The results demonstrated that, while evaluating the educational service in subject, respondents are influenced strongly by four of the thirty five presented variables: clerical employees' performance, the concern with the practical application of knowledge, lecturer competence and the exchange between market and educational institution.