The genesis and spread of COVID-19 around the world since 2020 have caused severe impacts in every aspect of people's lives, from work life to recreation, social activities to physical health. Higher education has not been excluded. Universities have altered curriculum, changed delivery methods, provided more counseling, purchased new technology, and altered attendance policy for classroom, athletic, social and artistic events (Hamlin, 2021). To assess the impacts of these changes on college students, the authors created a questionnaire to ask students about their perceptions of these COVID-related impacts on their own personal lives. The survey had 56 questions about how the virus affected their academic, social, financial, physical and emotional lives. Over 800 students responded with objective input and subjective comments. Due to the volume of data, the authors have split the study into two parts. The survey results for the first part, academic and social aspects of the survey, were published in "Understanding the Impact of Covid-19 on College Student Academic and Social Lives," Research in Higher Education Journal Volume 41 (see http://www.aabri.com/manuscripts/213347.pdf). It will sometimes be referred to herein to provide clarity to the reader. The actual survey itself can also be found at that site. This paper focuses on the impact of the coronavirus on student financial and physical well-being, which have become major stressors to this age group and have contributed to higher levels of anxiety and depression. It also examines how the virus has affected their social and emotional well-being. Lastly, recommendations are made to help educators understand the severity of the problem, and to take action to provide assistance for those students who have been adversely affected.