The wreck occurred shortly before 1:30 a.m. Sunday near Allen University.
Richland County Coroner Gary Watts says the victims were 18-year-old Candice Davis, of Eutawville, and 20-year-old Jerry Blandin, of Greenville, both students at Allen.
Columbia police have charged 27-year-old Jabari O. Harding with felony drunken driving resulting in death. Mr. Harding is being held in the county jail. It was unclear if he had an attorney.
Three people were taken to a Columbia hospital. Their names have not been released.