Globalization and internationalization have fostered the development of English as a medium of instruction (EMI). EMI is gaining its popularity all over the world. In line with this tendency, various universities in Vietnam introduce EMI to its undergraduate programs in forms of advanced or high-quality training programs. However, little research has been conducted to discover the benefits as well as drawbacks of these EMI programs, especially in context where English is not a second language nor popularly used outside the classroom as in Vietnam. The purpose of this study was therefore conducted to explore the issue in a university in Vietnam. A group of 136 sophomores majoring in International Business and Information Technology participated in this study. A questionnaire was administered to them to obtain quantitative data. Six students were selected randomly to take part in individual interviews to obtain qualitative data. Results indicated that students perceived four clusters of benefits and drawbacks that EMI classrooms provide.