The present study examined the profiles of parental perceptions of their child’s school adjustment in terms of learning loss and school well-being during the COVID-19 pandemic in Finland. Furthermore, the extent to which the profiles differed with respect to the different children and their family characteristics, as well as their parents’ stress about their child’s schooling, were examined. Parents (N = 26,313) completed a questionnaire in spring 2021 concerning parental stress and their children’s schooling. The five-profile solution was identified using latent profile analysis: (1) slightly-higher-than-average-school-adjustment (n = 8198, 31.2%); (2) high-school-adjustment (n = 3017, 11.5%); (3) slightly-lower-than-average-school-adjustment (n = 5025, 19.1%); (4) low-school-adjustment (n = 6777, 25.7%); and (5) mixed-school-adjustment (n = 3296, 12.5%). The low-school-adjustment profile was overrepresented among parents of boys, older children, and children with special education needs as well as among parents with lower education levels, higher numbers of children, and in single-parent households. In addition, the results showed that parental stress about their child’s schooling was associated with their perceptions of their child’s school adjustment during the COVID-19 pandemic. Overall, the results demonstrate that parents’ views of their children’s school adjustment varied widely during the COVID-19 pandemic. At schools, particular attention should be given to at-risk families (e.g., families with low education levels and children with special education needs) in which children may be prone to learning loss and low well-being due to the COVID-19 pandemic.