A second female student died later at an area hospital, KPRC reported.
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Police said there were multiple people injured. School district officials said two male students and the driver were taken to a local hospital, KPRC reported.
The extent of their injuries has not been released, according to CNN.
The bus, which was on the way to Furr High School in Houston, fell off an overpass and onto the road below.
The school is also the site of a charter school. The district did not say if the students went to Furr or the charter school.
A female driver told authorities that she thought another vehicle was coming into her lane, so she swerved to avoid the other car and hit the bus. The bus crashed through a guardrail, falling off of the freeway and landing on its side on the street below, KRPC reported.