Economic comfort plays a significant role in ensuring students’ quality of life. Measuring the economic condition of students in lower middle-income countries is a vital step in analyzing the impact of economic strain on quality of life. This study investigates the impact of cumulative economic strain on the mental health of a random sample of 500 undergraduate students of a private university in Bangladesh. Three self-reported and validated depression scales (BDI-II, PHQ-9, and CES-D) were used to analyze depressive symptoms, and a new Economic Strain Index (ESI) measured self-reported financial pressure, debt, and satisfaction with living conditions. More severe depressive symptoms are linked to students who experience greater economic strain, and female students are more likely to be impacted by the economic strain. The results suggest that the economic strain is consistently linked to increased depressive symptoms in all subgroups. The current study does not claim any causal relationship because of its cross-sectional design, nor does it claim generalizability given its limited study setting within one private academic institution. Campus-based financial assistance and mental health services, which also specifically focus on culturally sensitive, localized gender norms, could reduce depressive symptoms and enhance students’ quality of life.
