[3] On 20 April 2010, Prime Minister Sheikh Hasina sent a written order to the Ministry of Planning to form a trust fund for underprivileged students in Bangladesh.

On 11 March 2012, the bill for the Prime Minister's Education Assistance Trust was passed by the Parliament of Bangladesh.

Nurul Amin (Senior Secretary, Retired) was assigned as the first Managing Director of Prime Minister's Education Assistance Trust.

In 2017, banks in Bangladesh donated 1360 million taka to Prime Minister's Education Assistance Trust, Shuchona Foundation, and the Jatir Janak Bangabandhu Sheikh Mujibur Rahman Memorial Trust.

In 2018, 279 thousand students received funding from the Prime Minister's Education Assistance Trust.