The lack of interest on the part of the population and the national authorities in strengthening the earthquake resistance of buildings is a consequence of the lack of their own experience with catastrophic natural phenomena. The feeling of safety in the event of earthquakes is particularly deceptive because strong earthquakes are rare, but their potential for adverse effects is very high. In order to establish an unbiased perception of seismic risk among students, we conducted a seismic stress test of the building stock of the University of Ljubljana. The data for the purposes of this study was mainly provided by the University of Ljubljana, and some of the information was also obtained by inspecting the buildings and project documentation and on the basis of previous analyses. We developed an exposure model for the building stock, which was supplemented by a seismic hazard model, a seismic fragility model and an earthquake impact model for buildings and people. All models were then included in the seismic risk analysis. We developed a parametric model for estimating the pushover curves of buildings, which allows to analyse the seismic fragility of a single building by nonlinear dynamic analyses of a simplified nonlinear building model. The results of the study show that the seismic fatality risk at the University of Ljubljana is too high. The average annual return period for loss of life among students is only 6 years, which exceeds the acceptable fatality risk for an updated building stock by a factor of 26. Moreover, the financial losses are too high. The annual cost of repairing seismic damage to the building stock was estimated at EUR 1,040,000, which represents almost a quarter of all funds allocated to the University of Ljubljana from the Development of Funding pillar.