Background: College students frequently identify social media sites (SMSs) as in-class distractions, although students continue to use these sites during class. In a technology-driven world, students' fear of missing out (FOMO) may drive SMS behaviors, whereby classes and study time serve as obstacles to fulfilling one's social desires. Objective: The current study investigated whether students' use of SMSs during class and study time was predicted by demographic characteristics and students' FOMO. Method: Participants (N = 198) completed an online survey assessing their media use during class and study time, FOMO, and their perceived advantages/disadvantages of media use. Results: In-class Twitter and Instagram use were predicted by students' FOMO, whereas Snapchat and Facebook use were only predicted by age. Age also predicted Snapchat use during study time. Most participants indicated that media was a distraction, while also reporting a range of benefits from media multitasking. Conclusion: Given that students recognize both benefits and drawbacks of media multitasking, they may trade-off between their desire to engage with learning materials and their desire to stay socially connected with others. Teaching Implications: Educators can begin to address the socio-emotional needs of students through modifications made to course design and student-centered learning materials.