The incident was reported on the 6000 block of Woodleaf Road at Godbey Road.
Investigators say it appears the student, a 17-year-old junior at West Rowan, was hit by a car while crossing the road in front of the stopped school bus.
Witness James Cottrell was two cars behind Bus 309 and saw the whole thing happen.
Cottrell said the bus was stopped with it stop arms out and lights flashing.
A Honda Civic coming from the opposite direction appeared to not even slow down when it hit the student, Cottrell said.
Cottrell jumped out of his car, called 911 and ran over to the male student. He rolled him over and tried to help him breathe.
Dispatchers talked Cottrell through CPR procedures until the first emergency crews arrived on scene.
The students on the bus and the bus driver saw it all happen. They were transferred to another bus and taken to school.
Troopers are charging the driver with felony passing a stopped school bus.
The road was closed for several hours Thursday morning.
School officials have not released the identity of the student.