Established in 1992, it was originally planned for social sciences, but biology and physics were added later.

The activities of the Collegium have since been continued on a smaller scale by the newly founded Institute for Advanced Study at Central European University (CEU IAS).

[2] The CEU IAS is currently based in the Marczibányi Palace in the city center of Pest, October 6 Street.

At the same time as the founding of the CEU IAS, the Central European University also took over the Raoul Wallenberg Guest House in Buda, which had previously belonged to the Collegium.

The guest house is named after the Swedish diplomat Raoul Wallenberg.