The accident took place when the bus of a private school was coming to Fatehgarh Churian town in Gurdaspur from Majitha in Amritsar district, the police said.
Two students died on the spot while the third one died on way to Community Health Centre, Fatehgarh Churian, the police said.
The injured students have been admitted to various hospitals in the area.
Photograph: ANI
Pathankot attack: NIA questions SP Salwinder Singh
India's squash gold medalist to auction kidney to collect funds
Not talking to Pakistan will not stop terrorism