Students appear to be highly technologically competent yet their information literacy skills are in question. College and university executives should consider how to equip their students with information literacy -- not just IT skills -- for a lifelong ability to evaluate and address information needs since part of a college or university's mission is to prepare students not only for today but also for tomorrow. In thinking about student IT competency, college and university executives should ask themselves the following five strategic questions: (1) What skills do students (and faculty) need in a digital world? (2) Do we have an operative definition of IT literacy? (3) Do we help students acquire the skills they need? (4) Is IT literacy integrated across all units? (5) Do we know how well we are doing? (Contains 8 endnotes.)