Introduction: The prevalence of depression and its correlates in Bangladeshi rural university students have been rarely investigated. We draw a literature review, a cross-sectional study and analysis of the rural students’ depression natures and mechanisms that influence their academic performance and health and well-being. Methods: A cross-sectional research was conducted during the period august 2019 to January 2020 in a university. We employed Beck Depression Inventory scale to collect data from 200 undergraduate and graduate students. Data were analysed using chi-square association test and ordinal logistic regression. Results: We discovered that mild to severe depression affected 60% of rural students [mild (16%), borderline (10%), moderate (12%), severe (11.5%), and extreme (10.5%)]. Family expectations, smoking, bad academic achievement, inability to enroll in a particular program, and inadequate household finances were significant risk factors for depression. When it comes to depression, male students scored noticeably higher than female pupils. The decreased depression was linked to both strong household economics and intellectual achievement. Conclusions: The intricate interactions among the risk factors influence the character and processes of depression in rural students. Programs for psycho-social support, such as behavioral and psychiatric therapy or mentorship, are crucial for enhancing the health and wellness of these students.