A judge set the bond and appointed a public defender for Zach Isaacman during a Saturday court hearing.
The victim is 24-year-old Brian Mulder.
During the hearing, Isaacman said that he was a junior, unemployed and lived at an off-campus fraternity. He faces felony weapon and battery charges.
School officials say the Friday shooting was an isolated incident and the injured student was shot in the leg.
The incident came less than a week after NIU marked the two-year anniversary of a campus shooting rampage that left five students dead before the gunman killed himself.
(The Associated Press contributed to this report.)