The students were approached by two men, who showed a small caliber handgun and demanded valuables. The men took the students' wallets, cell phones and an iPod.
The robbers then fled the area in a white Volvo four door sedan on Western Boulevard in an unknown direction. No injuries were reported.
Police say that there was an armed robbery in the same area in March, but stopped short of saying a pattern is emerging. However, authorities say they cannot rule out the possibility of a connection between the two incidents.
Police say they are following up on strong leads and hope to make arrests soon.
If anyone has any information on this robbery, they are asked to call NC State campus police at (919) 515-3000.