The internationalization of higher education has been on the agenda for decades now all over the world. Study abroad programs are undoubtedly tools of the internationalization endeavors. The ERASMUS Student Mobility Program is one of the flagships of the European Union's educational exchange programs implicitly aiming for the internationalization of European higher education. Despite the high level of support from the European Commission, the ERASMUS opportunity seems to be underused in several institutions. This study looks at the possible obstacles of internationalization at the institutional level through the lens of study abroad programs, and serves as a lesson for higher education institutions in the USA. Through desk research and a student survey, the author explores the encouraging factors and discouraging factors that affect business students in their decision whether to apply for a study abroad program or not.