Mental health assessment in academic environments has become increasingly critical as institutions worldwide face rising student stress levels. This study examines the predictive role of emotion regulation strategies and perceived stress on academic flourishing among students, with implications for future AI-driven mental health monitoring systems. Our cross-sectional study of 200 academic students (aged 18-30) demonstrates that cognitive reappraisal strategies show a strong positive correlation with flourishing (r=.643, p<.01), while perceived stress exhibits significant negative associations (r=-.435, p<.01). Regression analysis revealed that cognitive reappraisal serves as the strongest predictor of flourishing (β=.591, p<.001), followed by perceived helplessness (β=-.189, p=.001). These findings provide a foundation for developing intelligent educational systems that can automatically assess student mental health indicators and predict academic outcomes. The identified psychological predictors offer valuable features for machine learning algorithms in future educational technology applications, contributing to the emerging field of AI in education and student wellbeing analytics.