The building, which is a two-story annex of the Sigma Phi Epsilon fraternity house, caught fire around 6:20 a.m., according to witnesses.
The house is located on Summit Street, which is across from the university's main campus.
Nine students live in the house, but only eight were there when the fire began. A university representative said possibly four overnight guests were also inside the house.
Fire officials say everything was lost in the fire including the student's books and computers. Two cars parked outside the building were also badly damaged.
Only one student suffered a minor injury.
The fire is under investigation.