This descriptive study aimed to explore the causes and consequences of academic stress among university students. A stratified random sampling technique was used to draw 660 students as a sample of the study out of 1018 population from Hazara Division, Khyber Pakhtunkhwa, Pakistan. A self-developed survey questionnaire was used as a data collection tool from both male and female students of three selected universities in Hazara division. The first part of the questionnaire explored the causes of stress while the second examined the consequences of stress. The data obtained were analyzed using descriptive statistics, t-test and analysis of variance (ANOVA). The results indicated a considerable proportion of the university students who faced academic stress due to a variety of reasons including fear of examination, unpreparedness and parental pressure; however, there was no significant difference found in the stress level of gender. The study also suggested developing a guidance and counseling cell/platform in universities for inculcating stress management strategies among students for better performance.