University social responsibility (USR) plays an important role in attaining the SDGs through education, research, innovation, and public engagement. Based on the social exchange theory (SET), this study investigates the influence of USR initiatives on student satisfaction, electronic word-of-mouth (WOM), and student’s organizational citizenship behavior (OCB). Additionally, this study also examines the mediation role of student satisfaction for the relationships between USR and e-word of mouth, and student’s OCB. A quantitative approach was employed in this study, involving a survey of students at International School, Vietnam National University, Hanoi. Partial least squares structural equation modeling (PLS-SEM) was applied to analyze 250 samples and validate the hypothesis. Through the lens of SET, the research results demonstrated that USR has a significant and positive effect on student satisfaction, e-WOM, and student’s OCB. Notably, our research findings found that student satisfaction partially mediates the relationships between USR and e-WOM as well as between USR and student’s OCB. Importantly, this suggests that CSR initiatives enhance student satisfaction, which in turn positively impacts e-WOM and student’s OCB. By applying SET, our research findings significantly contribute to the limited research on the role of USR in higher education, highlighting its strategic importance in fostering student satisfaction, which in turn positively improves e-WOM and student’s OCB. The results offer several practical implications for universities and other stakeholders in terms of improving university image and reputation through investing in USR and student satisfaction.