The present study investigated the subjective wellbeing of education faculty students in terms of demographic and psychological variables. Psychological variables were forgiveness and psychological resilience. Demographic variables were gender, academic major, monthly allowance, parental education level, place of accommodation and health status. Participants were 661 Turkish college students. Data collection instruments were Positive and Negative Affect Scale, Satisfaction with Life Scale, Heartland Forgiveness Scale, and Ego-Resiliency Scale. Data were analyzed using Mann-Whitney U Test, Kruskal-Wallis Test and Spearman's rank correlation test. Results revealed that participants' subjective wellbeing scores are positively correlated with psychological resilience. Participants' subjective wellbeing scores differed significantly with respect to gender, academic major, monthly allowance, father's education level and health status. Implications for college guidance and counseling practices in Turkey are discussed; and recommendations for future research are provided.