The crash occurred early Saturday morning on a college campus of Sam Houston State University, which is located about 110 km north of Houston, the website of the Houston Chronicle reported.
When police arrived at the scene, they found the vehicle had rolled over into one of the university's academic buildings.
Authorities confirmed three students in the car died at the scene while a fourth student, whose condition is unknown, was sent to an area hospital.
University spokeswoman Julia May told the media that speed appeared to be a contributing factor in the crash. Details of the wreck remain under investigation.
May said that the semester had just ended with the last final exam administered on Thursday. Fall graduation ceremonies were held Friday night and two are scheduled for Saturday. She said none of the students in the crash were graduating this year.
The university said Saturday's graduation ceremonies and ACT (American College Testing) went on as planned. Sam Houston State University, founded in 1879, is one of the oldest public institution of higher learning in Texas. The school has an enrollment of more than 18,400 students.