The Indonesian Ministry of Education, Culture, Research, and Technology's Merdeka Belajar-Kampus Merdeka (MBKM) policy aims at enhancing student competence and preparing them for future challenges. As a key component of MBKM, the Pertukaran Mahasiswa Merdeka (PMM) program facilitates student exchanges between universities within Indonesia. This study examines the impact of the PMM program on in…