The Central European Exchange Programme for University Studies (CEEPUS) was founded more than 25 years ago with the aim of supporting the strategic role of the region by academic and further cooperation among the Central, Eastern and Balkan States of Europe. Its framework covers mobility grants for students and teachers within academic networks designed to operate joint programmes and degrees. The importance and impact of CEEPUS are less researched and highlighted compared to the European Union flagship Erasmus Programme, but its results and potential made a comeback to international political agendas and are an actual topic on policy forums. The current scheme is secured only until 2025. Therefore, this research intends to support decision and policymaking processes for future planning by presenting the outcomes of programme participation and necessary changes for improvement and to answer whether the CEEPUS is still needed besides the Erasmus+ and other mobility programs. Hungary is among the founders and one of the most important member states considering the allocated grants, the number of professional networks and mobilities—that make the processed sample representative and valuable.