The current study examined the association between psychological distress and identity distress related to the COVID-19 pandemic among college students experiencing a campus red alert status (akin to a campus lockdown). Results from an online survey implemented 30 days after the red alert status began indicated that large percentages of students reported severe or very severe identity distress regarding long-term goals (42.1%), friendships (33.1%), and career choice (27.7%). Psychological distress related to the COVID-19 pandemic was a significant predictor of identity distress related to long-term goals (B = 0.060, p < 0.01), career choice (B = 0.040, p < 0.01), friendships (B = 0.066, p < 0.01), values or beliefs (B = 0.036, p < 0.01), and group loyalties (B = 0.044, p < 0.01). Similarly, psychological distress was a significant predictor of total identity distress (B = 0.279, p < 0.01). Implications for practicing college clinicians and campus health professionals include the need for the consideration of identity distress as an important aspect of college student mental health to assess during ongoing public health crises. Additionally, college students may benefit from identity-related programming during these types of events. More research is needed to better understand the psychological impact of public health crises on college students’ identity development.