Stevens Institute of Business and Arts shooting: St. Louis college shooting reported by police

St. Louis, MO -- Police are investigating a shooting at the Stevens Institute of Business and Arts at in St. Louis, according to stltoday.com .

The shooting happened at the college located at 1521 Washington Avenue around 2 p.m., according to KMOV.

KMOV reports a gunman entered the school and shot a person in his late 40s in the chest. He then shot himself.

Both the suspect and victim were transported to a nearby hospital in critical condition but are expected to survive, KMOV reports. 

Fox2now.com described the victim as one of the school's financial advisors.

According to stltoday.com a SWAT team and police dogs moved through the building, finding no other injured people and no other suspects.

Police Chief Sam Dotson told the Associated Press that officers found students hiding under desks and in closets.

Sources told ksdk.com the possible motive for the shooting was a discrepancy about financial aid.