The project entails 4 types of exchange programs from the University of Iceland; Student exchanges at all study levels, Student training/placements at all study levels, teacher exchanges and staff training. The University of Iceland has been an active participant in the Life long learning program since 1992 where student exchanges to and from the University have been an increasing part of its international activities. In the first year of participation the University of Iceland sent 52 students on exchange to its partner institutions. This academic year, 2014-2015, we sent a record 292 students on exchange, most of them Erasmus+ exchange students - 184 students. Some student groups are more mobile than other, namely younger students studying subjects where there is more flexibility in the program structure. We are hopeful that in the near future most, if not all, students at the University of Iceland will have the opportunity to go on exchange during their studies, preferably during a defined ,,mobility window'' organized by faculty administrators. The University of Iceland is currently formulating an International strategy and one of the key objectives of the strategy in terms of student exchanges is to ensure that each and every student has the opportunity to go abroad and gain international experience regardless of their field of studies.The Erasmus+ program has started an profound dialogue among administrative staff and teachers on how to better internationalize their work to enable student exchange, outgoing as well as incoming, to flourish. Discussions on increasing courses taught in English has been prominent in this dialogue in order to enable faculties to find new optimal partners to increase opportunities for their own students to go abroad. This is just one of many examples of long-term impact and benefits of the Erasmus+ program on the University of Iceland In regards to results and impact of the Erasmus+ program it is worth noting that students are becoming more aware of the opportunities and benefits of Erasmus+ exchanges. Students are increasingly linking their studies and future career with the Erasmus+ program, tailoring their course selection and trainee-ships abroad to increase their chances of working in a work environment in the future that fits their professional interests. The positive impact of the Erasmus+ program on the teacher and student community at the University of Iceland is undeniable as well. Teachers report that former exchange students revitalize class discussions with their fresh insights and different point of views gained during their exchange and students report a new found enthusiasm for their studies and a clearer vision regarding possible paths to take in further studying and their career. In addition it is worth noting that we have knowledge of at least three Erasmus+ placements students being offered a permanent position within at the host institution after completion of their trainee-ships, so it is safe to say the Erasmus+ is a great gateway for students to get their professional careers started. Teacher and staff exchanges have also been increasing with numerous benefits for the participants themselves as well as their colleagues and student body. 2014-2015 was also a record year for the University of Iceland in terms of the number of outgoing teachers and staff members, in total we received 107 applications of which 74 received Erasmus+ funding.