Çolak, Miranda Karjagdi2026-02-082026-02-0820252149-5602https://doi.org/10.31464/jlere.1660703https://hdl.handle.net/20.500.12885/4954As English Medium Instruction (EMI) continues to expand in Turkish higher education, this study explores the motivations and identity investments of EMI and non-EMI students enrolled in a university English preparatory program. Using narrative inquiry, it focuses on five Turkish students (two male, three female), purposefully selected for their diverse academic trajectories and language learning goals. Narrative data were analyzed thematically through qualitative content analysis, informed by Peirce’s [Norton] (1995) theory of investment, its expanded model (Darvin & Norton, 2015), and Bourdieu’s (1986) concept of linguistic capital. Results reveal that students view English as a form of long-term investment, closely tied to imagined global mobility, professional advancement, and identity formation, yet they report limited institutional support beyond the preparatory year. The study highlights how neoliberal ideologies shape students’ language aspirations and underscores the need for sustained, goal-oriented language development opportunities aligned with learners’ imagined futures.eninfo:eu-repo/semantics/openAccessNeoliberalismimagined communitieslinguistic capitallanguage learner identityArticle10.31464/jlere.16607031128919081355310