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The impact of the COVID-19 pandemic on subjective well-being of (international) higher education students in the Netherlands In this paper we investigate the impact of the COVID-19 pandemic on subjective well-being of higher education students in the Netherlands. More specifically, we compare international students and Dutch students, based on the Dutch data of the COVID-19 International Student Well-Being Study, a cross-sectional survey conducted between May-July 2020 among higher education students across the Netherlands (N = 10.491). Based on the sociological literature on the relationship between social capital and subjective well-being, we investigate in particular whether changes in social contact during the first lockdown can explain differences in subjective well-being between international and Dutch students. Our results suggest that although international students report lower levels of subjective well-being compared to Dutch students, these differences cannot be directly explained by (changes) in social contact during the lockdown. [ABSTRACT FROM AUTHOR]