The University of Dubuque students were severely burned when their light plane went down at the Eagle's Roost Resort in Cassville and crashed into a tree and two cabins before igniting, according to the Grant County sheriff's office.
A spokeswoman for University Hospital in Madison said the two remain in critical condition.
The university identified the students as juniors Cory Alsip from Glendale Heights, Ill., and Grant Vogt of Dubuque.
On the university's Web site, president Jeffrey Bullock said the university plane was approaching the Cassville airport before it crashed. Witnesses said the two students were able to get out before the plane became engulfed in flames.

