Social media use is widely accepted in higher education, connecting students' learning with daily life. Considering the potential of social media to revolutionize the whole spectrum of teaching and learning, this study examines social media usage of business school students of different majors and their perception of social media as learning aids through a quantitative online survey guided by the 5E instructional model, with 423 valid responses from students majoring in accounting, finance, and economics. Results indicated that respondents perceived social media as influential in helping them access study-related information. It facilitated comprehensive learning, information access, information sharing, and student communication with instructors. Significant differences in perceptions of using social media as aids for business learning were found among students of different demographics, including gender, education level, and residence, but not quite for different majors. While various studies have examined the use of social media in education, scant studies focus on business school students under the lens of the 5E instructional model, especially Asians.