This paper examines the impact of the COVID-19 pandemic on the financial situation of students in Poland. The study aims to describe the experiences of students facing the challenges imposed by the pandemic, including disruptions in education, limited job opportunities, and changes in living arrangements. The research on current earnings, expenses and savings was conducted in June 2021 by means of a survey administered to 710 students, aged between 18 and 25, enrolled in various study programmes at higher education institutions in the Greater Poland Voivodeship. The findings indicated that the pandemic had significant negative effects on students’ financial situations, with almost 20% of respondents reporting a worsening of their financial conditions. Many students relied on part-time jobs, which were disrupted due to restrictions. Additionally, the shift to online learning and living with family members caused additional stress and distractions. The findings of the research emphasise the need for targeted support measures to address the challenges faced by students during and after the pandemic, taking into account their diverse backgrounds and attitudes.