The purpose of this qualitative study is to contribute knowledge on how students in an academic setting conceptualise information literacy, how they interact with information and library provided resources to meet their information needs, as well as to examine how the academic library supports students with their studies as a facilitator and its role in information literacy instruction. Taking a qualitative approach, the study used semi-structured interviews to gather the necessary data. To collect the empirical data, twenty-six students of the University of Cyprus (UCY) who actively use the library of the institution were interviewed. After the interviews, several themes emerged concerning how students conceptualise information literacy, as well as their opinions on the role of the library as a facilitator for their studies. The findings showed that students relate information literacy mainly to information seeking activities and the appropriate use of information. Concerning the use of library resources, students tend to use both printed and electronic material in order to meet their information needs. The findings also revealed that students are satisfied with the library collection as they find it quite sufficient in helping them accomplish their studies. As far as the teaching of information literacy is concerned, most interviewed students believe that a stand-alone credit information literacy course would be more beneficial and efficient for students, rather than an information literacy course embedded in one of their classes. The importance of an active mode and the compulsory nature of these courses against a passive mode and non-mandatory nature has also been stressed by the students.