Purpose: This study aimed to find out the meaning of the experiences of depression among university students. Methods: Seven university students who scored 21 or higher on the Center for Epidemiological Studies Depression (CES-D) scale participated in this study. Data were collected through individual in-depth interviews from October 22, 2022, to February 27, 2023. Verbatim transcripts were analyzed using Colaizzi’s phenomenological qualitative research method. Results: Thirteen themes and six theme clusters were identified. The experiences of depression were derived from six themes: relational deficits and role imbalance within the family, internal and external conflicts due to economic difficulties, conflicts arising from social expectations and identity struggles, resistance towards uncertainty in the future and efforts for self-understanding and personal change, and interpersonal adjustment for self-protection. Conclusion: To mitigate depression in university students, the government and universities should educate them on effective methods of coping with trauma and stress and strengthen employment and financial support policies by implementing targeted scholarship programs and job placement services. Additionally, it is important to assist university students with depression to enhance their ability for self-acceptance to prevent negative self-perception.