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University reputation is a decisive factor in the management, positioning, sustainability, competitiveness, differentiation, and success of universities. However, the measurement of university performance is often communicated through international rankings, which are frequently criticized for not considering the student's perception, who is the primary user of the educational service. For this reason, the objective is to analyze how students' experiences and their perceived value of the educational process influence the final reputation of universities in two different contexts: Colombia and Spain. Additionally, the results of these relationships are contrasted with the cultural differences and educational systems of both countries. The methodology used is quantitative by means of the formulation and demonstration of a structural equation model, with 385 surveys collected from undergraduate students in Colombia and 333 from undergraduate students in Spain. The results confirmed that student experience influences both perceived value and reputation, and perceived value influences the reputation of the university, likewise, the student experience has an indirect effect on reputation through perceived value, with consistent findings in both countries.