RCMP say the bus was travelling on Highway 35, north of Grimshaw, Alta., when it appears to have crossed into an opposing lane, where it was hit by the truck just before 8:30 a.m..
The 60-year-old bus driver died on the way to hospital. The 14 students on board, all elementary or high school students, were all injured. One has been flown to hospital in Edmonton with non-life-threatening injuries, while seven were taken to hospital with broken limbs and other serious wounds.
The remainder are being treated for minor injuries. The 36-year-old driver of the truck was also seriously injured and taken to hospital.
Cpl. Carol McKinley told CBC News that the students were on their way to schools in the Peace River area.
Crash investigators are now trying to determine the cause of the collision.