The Union of Students in Ireland (USI) has warned of a possible link between living conditions and poor mental health.
Students facing an inadequate grant and a shortage of affordable rented accommodation may be more predisposed to "feelings of despondency or depression", the USI said.
The union believes the Government needs to increase investment in grants and student accommodation as part of a more integrated approach to mental health.
USI president Hamidreza Khodabakhshi said: "Among students, inadequate funds for studying can induce despondency or depression, with a potentially detrimental impact on academic performance and attitudes to alcohol and drugs."
Mr Khodabakhshi said: "This fact must be part of the Government's understanding if it is to support good mental health among young people and the wider population."
USI equality officer Ryan Griffin urged the Government to support the work of USI by removing some of the sources of anxiety and unhappiness before they work their effects on young people.