The student, from East Sepik, was taking a short cut from the Waigani Catholic Church to the University premises between 7pm and 8pm when the incident occurred.
The student walked into the UPNG staff residential area, where he collapsed.
Uniforce security guards rushed him to the hospital, but he was pronounced dead on arrival.
Metropolitan Superintendent, Gideon Ikumu said two suspects have been apprehended by police and locked up the Waigani police cells.
The body of the deceased is now at the Port Moresby General Hospital morgue.
