The Fulbright Program started in Mongolia with the very first Mongolian Fulbright Student traveling to the United States in 1994. Since then the U.S. Department of State has supported and funded almost 300 two-way Fulbright exchanges between the two countries.

In 2009, the Government of Mongolia initiated discussions on expanding the Fulbright Program and establishing a Bi–national Fulbright Foreign Student Program.  Mongolia and the United States signed the founding agreement on December 15, 2010.  Since its inception, the program has enabled about 90 Mongolian young professionals to pursue graduate studies in the United States in various fields including education, environmental science,  public health, geology, mining engineering, and more.