The Mississippi Highway Patrol tells local news outlets that the driver died in the Tuesday morning incident, with the bus ending on its side in a ditch.
Benton County school Superintendent Steve Bostick tells WMC-TV he believes the driver, Chester Cole, had some kind of medical emergency. Bostick says Cole had been working for the school district for five years.
Seven children were on the bus at the time, between the ages of seven and 13. All were taken to hospitals in and around Memphis, Tennessee, some by helicopter.
Troopers say no other vehicles were involved in the wreck on U.S. Highway 72 west of Walnut.
Walnut borders the Tennessee state line.