"Prime Minister's Education Assistance Trust" was formed in the year 2002, with the intention of the Prime Minister Sheikh Hasina, to ensure the education of the poor and meritorious students. According to the provisions of the Prime Minister's Education Assistance Trust Act, 2002, the Honorable Prime Minister of the Government of the People's Republic of Bangladesh is the President of the "Advisory Council" with five (five) members. The Honorable Minister of the Ministry of Education is the Chairman of the Board of Trustees, consisting of twenty-six members under the existing law.

The Trust Fund is providing fellowships, financial aid, grants and fellowships in higher education to poor and talented students studying in schools / colleges / madrasas / universities. Due to this, poor and talented students are getting the opportunity to get paid education up to a degree. The Prime Minister's Education Assistance Trust is implementing an e-stipend system to deliver elliptical money in a short, hassle free way to the students. As a result of this approach, elliptical payments will be ensured as self-bank through selected financial institutions at convenient times, places and preferred financial institutions. The Trust is playing an important role in increasing the number of students in educational institutions, preventing dropout, spreading education, prevention of child marriage, empowerment of women and socio-economic development.