Introduction: the mental health of university students has generated a growing concernat the international level, estimating that 30% of the student body meets diagnostic criteria for mental health problems. A similar situation occurs to nursing students, whereby the research seeks tounderstand how the mentioned students of the University of Chile conceptualize and perceive mental health, with the purpose of better guiding the institutional approach and contributing to thestudent welfare. Material and Method: qualitative, exploratory-descriptive study. The participantswere nursing students from the University of Chile. Sampling for convenience, focus groups, interviews, and triangulation of results were carried out. Analysis by open-axial coding of GroundedTheory, which generated a network of codes, categories, and dimensions of analysis. Ethics Committee approval. Results: Negative evaluation of their mental health, which is contingent on academic success. Talking about mental health is being vulnerable. Conclusions: there is a need togenerate institutional plans that address the documented gaps and contribute to health promotion through social, political, and technical actions, to improve mental health and reduce inequities in university settings.