The female UNC student told police she was assaulted early Saturday morning at a residence near campus.
The suspect is described as a college-aged white male.
Police have not released any other details.
The incident comes just over a week after the murder of UNC student Faith Hedgepeth. Hedgepeth was found dead in her apartment, and police have yet to make any arrests.
Police are asking anyone with information in the sexual assault case to contact CrimeStoppers at (919) 942-7515.