Published Thursday, 22 May 2014
The 26-year-old was taken to hospital in the wake of the incident shortly after 11am on Thursday.
A second man, who was detained by officers at the scene, is also being treated for injuries which are not believed to be life-threatening.
The 20-year-old has been arrested in connection with the stabbing.
A student who witnessed the aftermath of the incident, which happened in a toilet block, told UTV it had been a distressing ordeal for everyone on campus.
"A guy ran past with blood over his hands and his jeans soaking," she said.
"He was chased out into the car park by security staff ... Then it emerged that a student had been stabbed in the toilets. He was stretchered out with blood over his chest."
No one expected to come in to this on a Thursday morning.
The student added that there was a large police presence, including forensics officers and sniffer dogs, and that the campus had been closed.
It is understood that both men involved in the incident are special needs students.
Earlier, a spokesman for the Northern Ireland Ambulance Service told UTV that paramedics had been called to a fight at the Millfield campus and that knives had been involved.
According to Belfast Met, the incident is unprecedented in the college's history.
"Our absolute priority is to provide our students, staff and the families concerned with the support they need as they seek to recover from what has been a traumatic ordeal," Principal Marie-Thérèse McGivern said.
"Counsellors were on site within 20 minutes of the incident and will remain available for as long as our students and staff need them.
"The College will also continue to liaise closely with the families involved."
Ms McGivern added that Belfast Met is unable to comment further as the matter is the subject of a police investigation.
This was clearly shocking and deeply upsetting for everyone involved.
Marie-Thérèse McGivern, Belfast Met
Employment and Learning Minister Dr Stephen Farry has expressed his concern over the situation.
"My thoughts are with these young people and their families, as well as with the students and staff of Belfast Metropolitan College," he said.
"I have been in touch with the college, which is working closely with the PSNI who are investigating this incident. I am aware that Belfast Metropolitan College is providing counselling and full support to students and staff at this time.
"The college has advised that it will keep me updated as matters progress. My department has offered to assist in any way that it can."
Parts of Building 2 where the stabbing happened remained closed after the incident, but classes continued to operate normally throughout the rest of the campus and at other sites.
© UTV News