All the students, six of them Koreans, were safe, Fire Officer (Gurgaon) Birbal said.
The fire erupted in the first floor of the three-storey hostel of Lancer International School in DLF area here due to an electric short circuit in an air-conditioner, he said.
Fourteen students, aged between 12 and 15 years, were trapped in the hostel building as it was locked from inside, the Fire Officer said.
Security guards, who used ladders to reach the first floor, broke the window panes to enter inside and rescued the students, he said.
Four fire tenders were pressed into service to douse the fire which raged for nearly an hour, Birbal said.