COVID-19 has changed our lives in all arenas, including higher education and psychological well-being. Three objectives were set forth in this study. We started by examining issues related to online education during the pandemic in Jordan, particularly for students pursuing business studies. Second, we assessed academic, behavioural, and financial stressors that business students experience at Jordanian higher education institutions. Lastly, we examined the possible coping methods students employed to cope and adapt during the pandemic. A descriptive cross-sectional study was conducted based on the perceived stress scale distributed to 473 Jordanian undergraduate students (18–27 years of age), across both public and private universities. Results showed an association between academic, behavioural, and financial stressors and students’ perceived stress. While students perceived various levels and types of stress during COVID-19, including academic, behavioural, and financial, they also experienced new online skills. However, despite coping with stress, some students (especially females) displayed more stress because of the deficient course content, which added to their perceived stress and left them feeling unmotivated. This study contributes to bettering the university students’ mental health.