Louisiana state police said in a Facebook post that residents near University of Louisiana at Lafayette may hear a controlled explosion.
State Trooper Brooks David says the bomb squad was neutralizing the first device, which was found in a trash can. Authorities say they are carefully examining the second device.
Classes and other activities were cancelled for the day.
Lafayette police spokesman Kyle Soriez says someone called about 5:35 am to say a bomb had been placed at Girard Park, which sits next to the sprawling, 1,500-acre (600-hectare) university campus.