Latin American universities (LAUs) have been going through a serious lack of economic resources which has plunged them into a deep financial crisis. The COVID-19 pandemic has exacerbated this calamity. However, LAUs have implemented online teaching processes in order to mitigate the effects of scheduling and other classroom disruption. There is evidence that these modes of teaching have had a reasonable reception but the level of student satisfaction is yet unknown. This article takes a systemic view of the predicament facing LAUs. It represents the elements related to the disruption caused by COVID-19 in a rich picture, building a systemic framework to explore student satisfaction with remote teaching. Using a sample of 298 students from Brazil, Colombia, and Peru, the study analyzes their situation through: (a) Well-being, educational resources, and learning experience and; (b) General satisfaction with virtual classes. Applying exploratory factor analysis, this study identifies three dimensions: (a) satisfaction with support and adaptation in the virtual modality; (b) satisfaction with the interaction in the virtual classroom; and (c) satisfaction with the development of the study program. Medium/high scores for the dimensions indicate moderate/high levels of satisfaction. The findings suggest that there are still unsatisfied needs regarding access to digital resources and socio-emotional needs. This article could be of interest to Higher Education Institutions (HEI) planners dedicated to post-pandemic, virtual education.