During the last two decades a worrying increase of psychological vulnerability, affective disorders, and difficulties in social relationships has been detected in adolescents and youth; this negative trend was more evident in post-industrial countries, leading policymakers and educators to invest resources to address this societal issue. In this context, the Italian Ministry of University and Research is currently supporting the development of research and intervention programs targeting university students, by encouraging the collaboration among universities, to investigate the phenomenon and identify effective solutions. The present study, conducted in 8 major universities in Lombardy, Northern Italy, involved over 7.000 participants. Data were collected through different research tools, including among others the Mental Health Continuum - Short Form, to investigate positive mental health and well-being, and the General Health Questionnaire, investigating distress. Information was also gathered on participants' socio-economic conditions, health and lifestyle. The opportunity to collect data through the same instruments in a large sample of students differing by academic degree, family and social background, daily time budget and lifestyle may provide important information on the interplay between the positive and negative dimensions of mental health, and their relationship with environmental and social characteristics. Results may help design and implement well-being promotion programs more accurately tailored to the needs and resources of specific groups of students, with the aim of building a welcoming university context based on equality and inclusion, and offering youth the opportunity to identify their own constructive pathway towards professional and personal goal achievement.