The COVID-19 pandemic has brought consequences to the mental health of the undergraduate population of nursing programs. To identify the factors associated with mental health disturbances among university students in nursing programs during the COVID-19 pandemic. A multicenter, cross-sectional study was conducted during the COVID-19 pandemic among students enrolled in nursing programs at two Colombian universities and one Spanish university. An online sociodemographic, economic, and personal survey was administered along with the GHQ-12, the Family APGAR, the MOS Social Support Survey, and the IES-R for posttraumatic stress. The prevalence of mental health disturbances and their differences according to the characteristics of the students were estimated; prevalence ratios were also obtained. Of the 302 students, a prevalence of clinically significant mental was found in 61.92%, family dysfunction in 61.58%, and low social support in 9.33%. In addition, 44.46% had posttraumatic stress symptoms, 52.65% had economic difficulties, 54.61% had academic difficulties, and 69.87% had personal difficulties. These mental disturbances were frequent in the presence of moderate family dysfunction (PR=1.77 CI95%=1.15;2.73), difficulty in paying for food (PR=1.35 CI95%=1.09;1.67), a breakup with a partner (PR=1.27 CI95%=1.02;1.59) and clinically relevant posttraumatic stress symptoms (PR=1.69 CI95%=1.28;2.24). Psychological distress and its related factors found in nursing students agree with other findings in the literature. A significant proportion of nursing students were affected in their mental health during the pandemic, demonstrating the need for systematic, continuous, and comprehensive strategies by educational institutions.