August 20, 2025

Financial Anxiety Is Real — Here’s How To Cope As A College Student

 

If you’re a college student feeling anxious about your finances, you’re not alone. 78% of college students note feeling a toll on their mental health due to financial pressures^*.

 

Financial anxiety is the feeling of being worried about one’s financial situation, and it’s incredibly common among college students. It can include stress about income, job prospects, student loan debt, or the ability to afford necessities like rent or groceries.

 

What Is Financial Anxiety?

Financial anxiety can be especially common among college students navigating their finances independently for the first time. Signs of financial stress can include:

• Physical aches and pains

• No work/school-life balance

• Trouble sleeping

• Rumination

• Struggling with making spending decisions

Financial anxiety can be different for everyone, but these are some of the most common symptoms. It also differs from general stress or anxiety, stemming specifically from worries about one’s financial situation. While general stress or anxiety can be a normal response to uncertain situations, financial anxiety focuses on things like income, debts, or struggles with affording necessities.

 

Common Financial Stressors For College Students

While anyone can experience financial anxiety, unique pressures make it particularly common among college students. Here are some of the most typical causes of financial anxiety in a college setting:

• Tuition increases and student loans

• Cost of living (rent, groceries, transportation, etc.)

• Lack of financial literacy

• Pressure to succeed academically while maintaining financial security

• Stress of balancing student organizations, social life, schoolwork, and working

These are just a few of the most common causes, but everyone’s situation is different. Acknowledging what causes your financial anxiety could be the first step to overcoming it.

 

Impact Of Financial Anxiety On Students

Financial anxiety can have a bigger impact on your life than you may think. Many students experience decreased academic performance due to heightened stress surrounding working part-time jobs, declining mental health and well-being, fewer relationships or time for social life, and developing negative long-term financial habits. Financial anxiety goes beyond just feeling nervous — it can impact many parts of life for students and create negative money mindsets for years to come.

 

Luckily, there are things you can do to help alleviate these feelings and make choices to help you overcome financial anxiety.

 

Coping Strategies

There’s no one correct answer when it comes to managing financial anxiety, but there are a few strategies to help you cope with it.

• Create A Budget: Keeping track of your finances can help you make smart financial decisions and better prepare for your future. Consider trying out a new budgeting app or downloading a free spreadsheet template to create a plan that fits your needs.

• Seek Financial Aid & Scholarships: Scholarships and financial aid can be an excellent resource for students to lighten the financial burden of tuition. Check your school’s financial aid resources to find options that are available to you.

• Build Financial Literacy: Understanding your finances can be the first step to coping with this stress, and financial literacy for college students is especially important. Seek out financial literacy resources to get control over your finances.

• Practice Stress Management: Whether you’re most at peace when going on a walk or writing down your feelings, find things that help you practice mindfulness and manage stress.

• Talk To Someone: Counselors, financial advisors, and even your friends can help support you during stressful times. Create an environment where you feel best supported and open to conversations about finances with friends and family.

By opening up to these conversations and building your skills, you can create lasting habits and a positive financial mindset. Although financial anxiety can feel overwhelming, you’re not alone. BCU is here to support you through all your financial needs.

 

To learn more about positive financial habits and resources to help you tackle financial anxiety, check out BCU’s financial well-being offerings, including free financial coaching.

 

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