Joshua Hunter, Kaitlin Perras, Jordan Segura, Lawerence Hong and Zackariah Rathwell were all stabbed to death at a house party celebrating the last day of classes at the University of Calgary.
Matthew de Grood, 22, has been charged with first-degree murder in the deaths.
As of Tuesday evening, little was known about the victims.
Hunter, a University of Calgary business student, is from Priddis, Alta.
Rathwell went to the Alberta College of Art and Design.
"We are deeply saddened to hear of the passing of ACAD student Zackariah Rathwell. Our thoughts and prayers are with his family and friends," the school posted to Twitter on Tuesday afternoon.
Hunter and Rathwell were members of the Calgary band Zackariah and the Prophets, which held its debut album release party Saturday.- Watch a live performance of Zackariah and the Prophets
CBC News is working to learn more about the other victims.
“It’s just hard knowing that we lost five really great, young people," said U of C student Jordan Fabro, who knew four of the victims.
“Josh and Zack were happy-go-lucky guys. They could always put a smile on your face, and no matter what they always had a smile on their face as well.”
Earlier police had identified the victims as being a 22-year-old man, a 23-year-old woman from Calgary, two 23-year-old men from Calgary and a 27-year-old man from Calgary.
The identities of the victims will be officially released after autopsies are completed on Wednesday.