The present study intended to find out the associated variables of depression and anxiety symptoms for young adults confronted with an academic stress. Ninety-two graduate students, who were actively involved in preparing their thesis, participated in this study. Two regression analyses were conducted to see different variables associated with depression and anxiety symptoms separately. Consistent with the expectations, depression and anxiety had overlapping predictors, such as negative automatic thoughts and hopelessness. However, adequacy of problem-solving abilities seemed to be associated with anxiety symptoms. Findings were discussed in the light of relevant literature.