According to university police, the shooting occurred around 4 a.m. at the College Park Apartment, a University-run apartment complex near the main campus.
The victim has been identified as 21-year-old Eric James Smith of Clementon. Police said he was a sophomore majoring in multidisciplinary studies and a former resident of the College Park Apartments.
Police were called to the scene for reports of gunshots and found Smith in a hallway.
Two suspects were arrested at a nearby shopping center shortly after the shooting thanks to a tip, police said. They said a weapon was found during the arrest.
"It's always a tragedy when a young person loses his life," Dean of Students Corey Farris said in a statement. "Our hearts go out to his family, those students and others who knew him. Our main priority right now is offering support to our campus community."
University Police Chief W.P. Chedester said multiple agencies responded to support their department and the investigation continues.