Common stressors amongst postsecondary students are exam-induced anxiety and stress. The purpose of this study was to measure stress alterations in the student population around examinations and determine how they affect electroencephalogram (EEG) profiles and memory scores. Twenty university students were measured multiple times in the study. During each measurement, participants were administered a cortisol saliva test and an EEG. We hypothesized that cortisol levels, memory scores, and EEG profiles would all demonstrate changes near examinations. The brain regions of interest (ROIs) were the parahippocampal gyrus, the medial frontal gyrus, and the middle frontal gyrus. Results demonstrated that memory performance and parahippocampal activity were correlated, specifically in the 5–9 Hz frequency band. Correlations were also computed between cortisol levels, memory performance, and parahippocampal activity. The medial frontal gyrus also displayed changes in the mean (19–20 Hz) current source density (CSD) throughout the experiment. The middle frontal gyrus activation was highly variable during the different measurement time points. Essentially, when an individual’s memory scores were consistent between exam and nonexam trials, there was an increase in middle frontal gyrus activation during examination periods. Lastly, the right parahippocampal gyrus was found to be the most activated one day away from examination time. These results indicate that memory scores are related to cortisol levels and examination periods, but most importantly, there are overt and predictable alterations in student EEG profiles near examinations.