Alternative education and its relationship with subjective well-being has shown a growing increase in research in recent years, worldwide. However, studies in Latin American countries have been scarce. The aim of this research was to understand the effects of alternative education on student’s subjective well-being in Chile and Colombia. The research focuses on the perspective of teachers from alternative schools in Chile and Colombia, as key informants. The information was collected, between 2022 and 2023, after the COVID-19 pandemic. Group interviews were conducted, with a total of 28 teachers, divided into 5 groups. Subsequently, an online questionnaire was applied to the sample including open-ended and multiple-choice items. The interviews and the open-ended questions of the questionnaire were analyzed using content analysis. Multiple choice items were analyzed using descriptive statistics. Results showed actions aimed at achieving the comprehensive development and subjective well-being of students, which sought to compensate for the effect of confinement and online classes during the pandemic. Teachers from Chile and Colombia agreed on the negative impact of the pandemic on subjective well-being, also affecting the students’ graduation profile. In this research, positive effects of alternative education on variables associated with the social and emotional development of students, including subjective well-being, were also observed.