Local media said students from Galara University in Suez were on the bus.
The students were on their way back to their dorms at Ain Sokna Resort after class.
Twenty-eight ambulances transported casualties from the scene of the accident to Suez Medical Complex.
The police arrested the bus driver and are investigating the cause of the accident.
Health Minister Khalid Abdel-Gafar and Higher Education Minister Ayman Ashor offered condolences to the students and their bereaved families in the accident.
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