Social media has become a key part of youth culture due to its significant influence on education and health. Hence, this study presents an analysis of the impact of social media on academic performance, study habits, and different health outcomes (sleep quality, physical activity, and mental health) among the youth aged 14–24 years. The information was collected through an online survey of a purposive sample of 500 high school and college students. The results indicate that the intensification of social media habits among youth involves both educational opportunities and significant health risks. Findings strongly suggest that social welfare policies should take into consideration the positive educational potential of social media while countering its negative impact on youth well-being. Other recommended interventions are the promotion of online study groups and digital detox initiatives, as well as healthy sleep and physical activities to be recommended for students. Further avenues of research should include investigating how young people are engaged with social media, so that appropriate educational strategies can be developed.