Due to the Covid-19 crisis, higher education was forced to offer online alternatives to their courses. This change drastically increased the number of students partaking in online education. However, the effects of obligatory online education could potentially be harmful and are not yet sufficiently explored. This research analyses the impact of obligatory online education on business students’ social life, well-being and academic performance. The study used a phenomenological and a comparative approach to assess and compare students’ personal experiences in Germany and the Netherlands. A total number of 30 semi-structured interviews were conducted with students in the mentioned countries. Results show, that students’ academic performance decreased due to a lack of student identity, study life balance, motivation and technological issues during e-learning. Furthermore, mixed findings were recorded about the impact on social life. Finally, a slight drop in students’ well-being caused by a decline in physical and mental health was observed. Findings of this study are significant in a sense that they can provide crucial information for policymakers, educators and managers in higher education which enable them to make more informed decisions when delivering online education in crucial times and enhance students’ experience. This will consequently create a more positive impact for students’ well-being, social life and academic performance.