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Background and Objectives: Public health emergencies, such as the COVID-19 pandemic, significantly impact individuals and families, particularly in educational settings. School closures and changes in daily routines reduced students' opportunities for learning and social interaction, affecting their mental health. Caregivers also faced increased responsibilities and stressors. This study aimed to evaluate a predictive model of mental health outcomes-specifically posttraumatic stress symptoms (PTSSs) and posttraumatic growth (PTG)-in Chilean schoolchildren and their caregivers. Materials and Methods: A total of 489 students (48% female sex; aged 10-17) from educational communities in various Chilean cities participated in the study, along with their caregivers (aged 21-69; 86.5% female), including mothers, fathers, and guardians. Mental health variables were assessed through self-report instruments. Hierarchical linear regression and path analyses were used to evaluate predictive models for PTSSs and PTG in students. Results: The model predicting PTSSs in students was significant. Key predictors included female sex, aggressive behavior, coping strategies such as keeping problems to oneself, cognitive avoidance, and intrusive rumination, and caregiver PTSSs. The model for PTG was also significant, with predictors including active problem-solving, communication, a positive attitude, and deliberate rumination. These results indicate distinct psychological processes underlying negative and positive outcomes following trauma. Conclusions: The findings underscore the complexity of mental health outcomes among school-aged children and the influence of caregiver well-being. The study highlights the importance of supporting both students and caregivers through targeted interventions. Multi-level strategies addressing emotional regulation, communication, and coping mechanisms may foster resilience and psychological growth in educational communities facing the aftermath of public health emergencies.