This study aims to explore the factors that influence Asian student mobility using a life planning model, which focuses on students' lifelong planning and restricting factors in decision-making. As a result of macro data analysis of student mobility from six Asian source countries to eight major destinations from 1999 to 2017, the income gap between source country and destination country shows a negative correlation with student mobility, which supports the hypothesis that a decrease in budgetary constraints promotes study abroad. This finding is contrary to the assumption of the traditional push-and-pull model. This may be explained by the expansion of a middle-class population who are eager to send their children abroad whenever the budgetary constraint is lifted. Bilateral trade shows a positive correlation, which supports the hypothesis that prospect of employment, associated with economic connectedness, promotes study abroad.