Bystanders play a potentially important role in intervening in incidents of racism, but they often fail to act. Much research has focused on investigating facilitators and barriers to bystander behavior, but mainly in the context of sexual violence. There is a dearth of research in the context of racism, especially outside the English-speaking world. In this pilot study, we employed a qualitative approach to explore bystander facilitators and barriers in higher education students in Finland. Online participants (N = 649) read two vignettes depicting a racist incident and wrote open-ended answers on factors that would facilitate and prevent intervention. We constructed six main themes using an inductive thematic analysis: (i) Perceived self-efficacy to intervene; (ii) Justification and moral reasoning; (iii) Clarity of the situation; (iv) Responsibility and permission to act; (v) Social relationships, support, and presence of others; and (vi) Consequences and impacts of action. We discuss the results with a reference to theories and literature, as well as the unique context of Finland.