The teacher, 54-year-old Tommy Johansson, was savagely beaten and killed in Hofors in eastern Sweden.
According to the indictment, Johansson was subject to severe violence before he died. The trio also stole a computer and the teacher's cash card before leaving the scene.
Two men and a woman who had previously said Johansson was one of her favourite teachers, are suspected of breaking into his apartment, at which point they began beating and kicking him.
The former students met the teacher outside a pizzeria earlier in the evening before following him to his apartment.
While the precise motive for the crime remains unclear, one theory suggests that the 22-year-old hatched the plan out of jealousy, believing that Johansson was hitting on his former student, the Aftonbladet newspaper reports.
At their remand hearing, the former students admitted to assaulting Johansson, but denied killing him.
One of the men, 22, has been charged with murder, while the 21-year-old woman has been charged with murder and an alternative charge of being an accomplice to murder.
The second man, also 22, has been charged with being an accomplice to murder as well as with protecting a criminal.
"My contention is that a man and a woman together murdered Tommy Johansson and another man was on the scene and is guilty of being an accomplice to murder," prosecutor Krister Frykman told the Expressen newspaper.