The accident happened on the Dublin road near the college at around 2am. The students, all male, were standing on the footpath when a car went out of control and hit all three.
The students were brought to Portiuncula Hospital in Ballinasloe, while the driver of the car was arrested and charged with road traffic offences.
It is the eighth serious accident on the roads in a week in which eight people have already lost their lives. On Thursday a 73-year-old woman died following a collision on the Dublin to Trim road. Gardaí named her as Margaret Kelly of Draiocht, Athboy, Co Meath. Ms Kelly was killed when the car she was driving was involved in a head-on collision with an articulated lorry.
Gardaí are continuing to investigate a collision near Mullingar, Co Westmeath yesterday evening in which an elderly man died.
The pedestrian in his 80s died following a collision with a car at around 7pm on the dual carriageway at The Downs on the Dublin side of Mullingar.
On Monday a man in his 40s died following a collision between the car he was driving and a truck in Co Wexford.
Also on Monday a two-year-old boy was fatally injured when the car he was in was in collision with a tractor at Lispopple Cross on the road from Swords to Ashbourne at 3.20pm.
A man and a woman, both in their 20s, died after the car in which they were passengers was in collision with another vehicle in Co Cork. The accident happened on the Ballincollig bypass at Lisheens, Ovens shortly after midnight.
They were 23-year-old Thomas Reck from Innismore in Ballincollig and 20-year-old Ciara Moynihan from Knocknagowan Place in Rylane.
In Co Galway, a 28-year-old was killed in a collision between two cars. He was Joe Cahill, a well known point-to-point jockey from Lydicaune, Oranmore.
And the man who died in an accident at Aghatubrid, Cahirciveen, Co Kerry, on Sunday was 22-year-old John O’Sullivan of Mountfoley, Kells, Co Kerry.
In Northern Ireland, a 22-year-old man died after a car left the road and crashed into a fence in Co Antrim. The accident happened at Templepatrick Road, Ballyclare shortly before 11pm on Sunday.