Many studies conducted by epidemiologists and psychologists offer data on the prevalence of the phenomenon, but in a totally decontextualized perspective, which is one among many flaws that characterize this literature. Based on the analysis of qualitative semi-structured one-to-one interviews as well as on focus groups, this paper aims to explore the social contexts, representations and rationales associated with cognitive enhancing practices among university students. We will try to fill the gap by linking cognitive enhancement with the social and individual contexts experienced by students through their accounts of performance, competition, depression and stress in the academia. We will argue that consumption of cognitive enhancers cannot be understood without trying to grasp the various strategies of coping with increasingly porous exigencies of higher education and those of the market. We will finally resituate cognitive enhancement in a broader theoretical framework on pharmaceuticalization, by illustrating how medications are central to the dissolution of polarities between health and illness, nature and culture as well as licit and illicit uses of drugs.