The paper focuses on ethnic stereotypes of modern Russians shared by students in a multinational educational environment. The results are based on the experiment held at the RUDN (Peoples Friendship University of Russia) university. Both self-portrayal images and hetero-national perceptions are considered. The theoretical stage of the experiment represents a detailed analysis of the national stereotype and similar terms (prejudice, attitude etc.) as key concepts for studies on ethnic psychology and pedagogics. The conducted research also threw some light on the role co-education may have as an impact factor in both forming and dissimilating ethnic stereotypes against its participants. At the practical part of the experiment, the authors were able to receive the findings based on the data collected through the questionnaires and free association experiments by Russian and non-Russian students of the biggest multinational University of Russia. The identified characteristics were set against the national portraits made by foreign respondents who had never been engaged in co-learning with Russians. Finally, a cross comparison of the results gained in the years of 2013 and 2015 was made possible, which, in turn, revealed the impact of the heavily changed geopolitical situation over the last years. As a result, we concluded that, in general, the students who had the relevant experience envisioned the same or a slightly better image of "the Russian", whereas the hypothetical expectations of other foreigners' worsened general attitude toward common Russians proved to be true. Russians' self-perception, surprisingly, has changed for the better. It may be treated as the implication for the "we-ness" and "they-ness" binary opposition, i.e. development of the so-called "togetherness" by our citizens against Russia' complicated position in the international arena. Experience of co-education may, however, significantly contribute to the dissimilation of ethnic negative prejudices.