The incident occurred two weeks ago at an apartment owned by Gonzaga University, when a stranger knocked on the door and asked one of the tenants, Erik Fagan, for money.
The man was John Taylor, who had recently gotten out of jail, KXLY-TV, Spokane, reported.
Fagan's roommate, Daniel McIntosh, was upstairs when Fagan answered the door.
"He starts coming more in the doorway and I yell for my roommate Dan, at which point Dan comes down the stairs and around the corner," Fagan said.
McIntosh came downstairs with a pistol and aimed it at Taylor, who fled.
Police caught up with Taylor, and campus security confiscated a pistol and shotgun from the apartment, where students are not allowed to have firearms.
The two students said they weren't aware of the rule and are now awaiting a ruling from a disciplinary board, which could suspend or expel them, KXLY-TV reported.
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