Media and information literacy (MIL) plays a pivotal role in coping with people of all ages in the current world, including children and, more significantly, university students, because they start their academic and professional journeys in today’s fast-changing digital world. The globe is accelerating due to digital technology’s rapid progress and evolution that is noticeable after COVID-19, and the whole world understood how digital skills are needed to connect with the era. The rapid development of digital technology immediately triggered a transformation in education and society, including university students of all backgrounds. The current employment marketplaces are very competitive and diverse, and most work is computer- or Internet-dependent. Recent advancements in AI and the metaverse can simplify and complicate our lives and create difficulties for those who are not aware of the technologies. University students need to develop digital media and information literacy proficiency to succeed in their careers and adapt to changing circumstances. As a result, significant inequalities persist in media and information literacy competencies, even with the growth of technology; these are especially pronounced among students from different socioeconomic and geographical backgrounds. In many places, such as the Global South, where the rapid increase in Internet users has also enriched digital risks, including social media-related violence, digital solid literacy education is in demand. The paper finds out and analyzes the digital skills and overview of media and information literacy among students, referring to empirical research findings and frameworks, such as UNESCO’s MIL and DigComp. This chapter reveals the gap between the skills of graduates in developed countries and graduates in the Global South regarding media information literacy. This study also suggested how national policies, institutional practices, and socioeconomic factors affect students’ ability to develop critical digital competencies: information literacy, content creation, communication, and digital safety. The study concludes with suggestions to improve digital literacy, empowering students to navigate future challenges while ensuring equitable access and safeguarding them against digital threats.