The Georgia Tech Police Department responded to a call about a person reportedly carrying a knife and a gun near a school dormitory early Sunday morning, reports Xinhua news agency.
Officers arrived at the scene and tried to make contact with Scout Schultz, 21, who was holding a knife, outside a campus parking garage, an official statement said.
Schultz was not complying with the police as he approached the officers before one of them fired, striking him. He was taken to a hospital where he died later.
Videos taken by witnesses showed Schultz appeared to be walking barefoot, with an object in his right hand. He can be heard yelling "shoot me" to the officers who urged him to drop the knife.
"Our son, Scout Schultz, was killed by the Georgia Tech police," the victim's father, William Schultz, posted on Facebooky.
"He had a tiny knife... They didn't have to shoot him in the heart, but that's what they did."
Scout was a four-year computer engineering student from Lilburn.