We tested a role-conflict, depletion, and enrichment model, in which work-based benefits (enabling resources, psychological rewards, and psychological involvement) and work-based demands (time-, strain-, and behaviour-based demands, and hours worked) were antecedents to work-university conflict and work-university facilitation, which, in turn, were antecedent to students' academic engagement (dedication and vigour) and well-being (general and context-specific feelings about university). We also tested whether conflict and facilitation acted as mediators in the relationships between benefits and demands and the outcomes of engagement and well-being. The hypotheses were tested using 185 university students (77% female; mean age = 22.7 years) who were working while studying. Work-based benefits (enabling resources, rewards, and involvement) were associated with higher work-university facilitation; more time demands and fewer psychological rewards were associated with more work-university conflict; facilitation was associated with more engagement (dedication) and general well-being; and conflict was associated with more negative feelings towards the university. There were no mediation effects. Working while studying is related to students' engagement and well-being, although modest effects were explained by role-conflict theory.