Kalyan Post Graduate College was established in the year 1963. It is managed by the Chhattisgarh Kalyan society which is a registered body. The object of starting Kalyan Post Graduate College was to cater to the need of higher education for employees of Bhilai Steel Plant, whose promotion was held up for want of degree education. In the beginning, it started as a night college. 100% students of the college were the employees of B.S.P. Even though it was a night college affiliated to Sagar University, Sagar (M.P.) the results of the University examination were very much encouraging. Many students obtained merit positions. It will be pertinent to mention here that Mr. Om Prakash Chaudhary a student of B.Sc. of the college has brought to the glory and name to the institution by securing 153rd Position in the I.A.S category of UPSC examination for the year 2004. The popularity of the college enhanced day by day and in the year 1971. It became a full fledged Arts & Commerce College affiliated to Pt. Ravi Shankar Shukla University, Raipur.
As indicated earlier, the need for graduate teachers was very much in demand in the area and therefore in 1973 Education Faculty was started, which is happened to be the first Teacher Training College in private sector in this region. Later, being an industrial township the higher education in science was in great demand and looking to those demand, B.Sc. course was introduced in 1974. Today, Kalyan Mahavidyalaya has five faculties viz. Arts, Science, Commerce Education and Journalism. Later, the need for Post graduation Courses in these faculties were strongly felt and therefore in 1981-82 P.G. Courses in Arts and Commerce, in 1982-83 P.G. Courses in Education, 1986-87 P.G. Courses in Science Faculties were started. To keep the lamp of education burning and to keep up the ever-expanding need of higher education, Biotechnology, Computer Science, Electronics and new subjects such as Biotechnology, Biochemistry, Microbiology & Information Technology at the graduation level and Biotechnology, Computer Science and Electronics at P.G. level have started in the session 2006-07. Also B.J.M.C. a three year degree course affiliated with Kushabhau Thakrey Patrakarita Avam Jansanchar Vishwavidyalaya, Raipur has started in the last session. From this session B.Com. (Honours), B.C.A. and P.G.D.C.A. courses are being started in the college campus.