The COVID-19 forced to transform face-to-face mode of teaching to virtual in educational institutions around the globe that not only impact institutional stakeholders, but also posed as a threat to entire humanity because, all parties related to education had to change their activities. The intentions of this study therefore firstly, to determine the content analysis by interviewing tertiary students and secondly, to determine the frequency distribution by questionnaire developed from results of the content analysis. To better understand the consequences of this outbreak, we took an interview from forty respondents, including undergraduate and postgraduate students across Bangladesh. Results of Content analysis revealed that stakeholders of tertiary education are encountering severe problems in mental health, financial, technical, and study. A questionnaire was designed based on results were obtained through content analysis and distributed using email, WhatsApp, LinkedIn, Telegram, Facebook, and Instagram from May 20 to May 30, 2021. A total number of 505 valid questionnaires were received from respondents. Frequency distribution analysis disclosed that 60% respondents have no separate reading rooms. Laptops and desktops are commonly used for online classes, but unfortunately, 21% respondents have no personal electronic gadgets. Moreover, 55% reported spending less time to study during the coronavirus outbreak. Furthermore, 88% respondents reported experiencing mental health-related stress, anxiety, and depression problems. The proportion that suffered financial crisis, family disruptions, internet and technology related problems were 79%, 83% and 72% respectively. Since coronavirus pandemic is a totally new phenomenon in the world, not much empirical literature exist. So we fill the gap, investigating the issue empirically using content and frequency distribution analysis. Policy implications and recommendations are discussed accordingly.