Depression scores of the students with different academic performance in the last semester examination clearly highlights significant difference indicating that students with poor (CGPA below 5) and moderate (CGPA between 5 and 6) academic performance were suffering from more depression. However, students with poor and moderate performance require special attention from the teachers of the respective departments for guidance. Although monthly family income was not found to be a strong determinant factor for depression of the students, the trend indicated that depression level was elevated for those who were coming from lower socio-economic background. A number of previous studies highlighted significant association between low socio-economic background and depression (Honkalampi et al., 2005 and Roberts et al., 1999). Since students from low socio-economic background are unable to meet all essential expenses related to higher studies, they become more vulnerable to depression.