The objective of the paper is to define information competence, its levels and components, to find out the reasons of low level of information competence among first-year students. Scientific literature analysis, CLRIT (Commission on Learning Resources and Instructional Technology) materials, Information Literacy Competency Standards for Higher Education (ACRL, 2000) and other data are used to analyze the role of foreign languages and IT skills for the development of information competence of a student. Questionnaires and interviews with the students give the necessary data for the analysis of students' information competence. The main conclusions are that self-management and time management of students pay an important role in their use of the Internet and the library, showing preference for the Internet resources for the reason of their easier and quicker accessibility in comparison with the use of library resources. Foreign languages are often needed to gain the necessary information, especially for some specialties, for which information can be found only in English. Information competence is developed during the whole life, and teachers of any subject should pay serious attention to developing information search, selection, evaluation, analysis and presentation skills.