BACKGROUND Rapid alterations to study environments during COVID-19 raised concerns for nursing students about their academic progression. AIM The study aim was to investigate the psychometric properties of the Altered Student Study Environment Tool (ASSET) and the relationship between students' concerns, demographics, COVID-19-related knowledge, and communication received from the university. METHOD The 11-item ASSET and investigator-developed questions were administered to prelicensure nursing students using an anonymous online survey. RESULTS Responses were obtained from 234 students. Exploratory factor analysis supported a three-factor structure, namely, attending clinical placement, completion of clinical placement, and grade attainment. Students with higher scores on knowledge had significantly lower concerns for the subscale attending clinical placement. Full-Time students had significantly higher concerns for the subscale completion of clinical placement. CONCLUSION The ASSET is a valid and reliable instrument that can be used to measure concerns relating to the effects of altered study environments on academic progression.