There are many factors that can lead to underutilization of appropriate medical treatments for migraine, including a poor understanding regarding the diagnostic features of migraine and available treatment options. The purpose of the present study was therefore to assess migraine literacy and factors leading to different treatment decisions. Respondents were 229 university students, both migraineurs and non-migraineurs, who completed online questionnaires which surveyed their knowledge of migraines, and for migraineurs, their experiences of migraine and migraine treatment. While migraineurs had significantly greater migraine literacy than non-migraineurs according to the questions asked, knowledge was incomplete in both groups. The majority of migraineurs who used prescription medication for acute pain relief found such medications to be very effective, and for those who did not use such medications, one in five cited the reason was that they did not know that such medications were available. The imperfect migraine literacy, both in terms of diagnostic features and available treatments, highlights avenues for future public health awareness campaigns.