This article addresses the question of what attitudes school students in Germany hold regarding the Coronavirus protection measures taken by policymakers. Based on this, it investigates to what extent the students’ assessment of the pandemic is impacted by a better understanding of the spread of the virus, as well as their objective knowledge and their self-perceived subjective knowledge about the pandemic. Using a sample of 563 German school students (ages: 12–26), Part I of our analysis shows that after more than 2 years of the COVID-19 pandemic, (1) a significant exponential growth bias (EGB) (i.e., a systematic underestimation of the speed at which COVID-19 spreads) still exists, and (2) this bias can be reduced by giving simple educational nudges, but (3) this treatment has neither a major effect on the general approval of anti-COVID-19 measures nor on the willingness of the participants to apply specific protective measures themselves. Furthermore, Part II of our study illustrates that both subjective and objective knowledge increase the approval of or willingness for most protective measures. The same holds true for fear of infection. Therefore, an educational approach that combines rational, cognitive, and emotional elements is likely to be best suited to raising young people’s awareness of the dangers of a pandemic such as COVID-19.