The health, economic, and social challenges associated with coronavirus disease 2019 (COVID-19) present a range of threats to students' well-being, psychoeducational experiences, and outcomes, spurring fears for a "lost generation." In this article, we present COVID-19 as a large-scale multisystemic disaster causing massive disruptions and losses, with adversities moderated by the intersectional nature of systemic inequity. We first synthesize the broad effects of COVID-19 as they relate to equity and social justice, followed by the major implications for students and schools, with a focus on intersectional systemic issues. We then propose foundational considerations and resources intended to usher a paradigm shift in how school psychologists' roles and activities are conceptualized in the years to come, ending with key imperatives for practice and graduate education in school psychology. (PsycInfo Database Record (c) 2021 APA, all rights reserved).