In the complex world of personal finance and investment, individual decision-making is often influenced not only by rational analysis but also by cognitive shortcuts and biases. This study seeks to examine the impact of financial literacy on heuristic-driven biases among individual investors in India, particularly focusing on university students. The research categorizes students into two groups: those pursuing finance-related disciplines and those from non-finance backgrounds. By doing so, the study aims to assess whether a higher degree of financial knowledge assists students in mitigating the influence of heuristic biases and enables them to make more rational financial decisions.