Arlene Foster said Stormont was working with the universities so that if they have to remain at university “there are support mechanisms in place”.
Restrictions were widened after a meeting of the executive on Monday.
It followed nightly problems in Belfast’s Holyland’s district where students were holding house parties, with people coming from across the North of Ireland to party at houses, paying £20 to stay over.
Health chiefs believe this and other social gatherings across the North of Ireland has led to a spike in Coronavirus cases recently.
They also fear students could bring the virus home with them and spread it other family members.
COVID-19 restrictions are to be extended to all of NI from 6 pm this evening, Tuesday, September 22.
There will be no mixing of households indoors with some exceptions, and no more than six people from two households can meet in a garden.
In the last seven days, 1,014 people have tested positive for COVID-19 in Northern Ireland.
Mrs Foster told BBC Talkback said NI had the “unique” situation where a lot of young people spend the weekend at home with their families and students going home should be “careful and to be alert to the dangers”.
Earlier she told Good Morning Ulster the Executive would consider a “circuit breaker” – moves aimed at stopping the rapid spread of COVID-19.
It comes after the deputy first minister said the coronavirus situation is now “more challenging” than in March, as the executive tries to balance a return to normal life alongside “keeping the virus in check”.
Michelle O’Neill said there are a “difficult number of months” and “crucial period ahead”.
Ms O’Neill said that people were probably “tired” of hearing about new restrictions, but she said it was important to give them “hope”.
She said people can “change this picture” over Covid-19 by their own behaviour.
“Where we are at today is on par with how I felt in early March and we are in for a difficult few months ahead,” she said.
She said the idea was “in the mix”.
However she added: “I believe that if we work together we will not need to go into a situation that we were in before.”
The executive is to meet on Thursday to consider further measures.
Ms O’Neill said the idea of introducing a curfew on staying in licensed premises like England was “pertinent” and that the executive would be making an announcement on this on Thursday.
She admitted this would be a challenge for the industry but that we were in “extreme times”.
Drink-only pubs are due to open tomorrow, Wednesday, September 23.
Ms O’Neill reiterated the NI Executive’s message that where possible “please work from home”, if it can be accommodated by employers.
Also on Monday, the first and deputy first ministers held discussions with the prime minister, chancellor and the political leaders in Scotland and Wales.
The issue of extending the employee furlough scheme was raised with both Mrs Foster and Ms O’Neill calling for it to be extended.
The issue of testing and PPE was also discussed in the remote meeting.
The following situations are exemption from restrictions on mixing of households in private dwellings:Bubbling with one other household
Caring responsibilities including childcare
Essential maintenance
Supported living arrangements
Visits required for legal or medical purposes
Marriage or civil partnerships where one partner is terminally ill
No more than six people can gather in a private garden from no more than two households.
But children aged 12 and under from those two households are discounted from this total.
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