Linebacker Michael Mauti told StateCollege.com that McGloin was hospitalized as a result of the incident.
"Yeah, but he'll be fine," Mauti told the website.
University police told the Pittsburgh Post-Gazette they are investigating and expect to release a report Saturday night.
"Everything is going to be OK," Penn State offensive tackle Quinn Barham told the Post-Gazette.
According to the reports, the team had scheduled a late afternoon meeting.