Police reported the student was alive and conscious at the time and that his injuries did not seem life-threatening. He was admitted to a Terre Haute hospital.
Police believe the incident was isolated.
The victim was able to give a general description of who may have been responsible. Police believed the individuals responsible left the area.
ISU Police Chief Joe Newport said Sunday morning that the student was recovering following a surgery to remove the bullet, which was lodged in the left side of his buttocks.