Currently, the role of a university in promoting the development of rural areas has been emphasized. However, an increase in academic training can lead to a growth in rural migration due to the lack of job opportunities for university graduates. Given the scarcity of studies on the impact of higher education institutions in areas at risk of depopulation, a research study has been conducted with university students residing in Castilla y León (Spain) in order to understand their insights on the benefits that university education can bring to rural areas, as well as to comprehend the reasons that would motivate the migration of university students or even the interest of institutions in addressing the issue of depopulation. The results achieved suggest that an increase in education could help slow down this process, with the proximity of the university being a decisive factor for population settlement. Additionally, while the shortage of job opportunities would be the main cause of migration, there would also be other factors contributing to depopulation, such as lack of leisure or services, despite a will to stay. Finally, the survey respondents expressed skepticism about the institutions’ interest in addressing this problem.