According to the State's Attorney Office, Shanee Liggins, 23, accepted a plea agreement that states she spends at least 14 years behind bars.
Police say Liggins stabbed Kortneigh McCoy, 19, in November 2011 after a fight at a party off campus.
Police found McCoy bleeding with head injuries.
She later died at Western Maryland Hospital.
Liggins won't be formally sentenced until after a pre-sentencing investigation is complete.
She faces a maximum of 30 years in prison.