This research addresses an identified need to further understand digital literacies (DL) and whether undergraduate students view DL as being important in their lives and in their learning. Using a cross-sectional survey sent to a stratified random sample of 2500 undergraduates representative of the overall student population at a medium-sized Canadian undergraduate university (survey response rate of 19.8%, N = 496), we explored the relationships between social media and digital literacies, particularly in different disciplinary contexts. We also explored the ways in which students report using social media in their university learning, showing that students value social media for collaboration, discussion, information finding and sharing, and practise activities related to their learning. Additionally, we examined the importance students place on DL, and how they perceive and rate their own abilities with digital literacies across three domains: procedural and technical, cognitive, and sociocultural. Findings illustrate an observable gap between the high importance that students place on digital literacies (including DL for social media) in their learning and their lives and the lack of coverage students reported receiving about these topics in their undergraduate education. Based on the study's findings, we discuss the specific ways that those in the higher education community can address this gap by engaging with and fostering development of digital literacies within specific disciplinary and professional contexts, and in interdisciplinary or transdisciplinary learning settings across the curriculum.