The hot dog stand in front of Robarts Library caught fire and burned down on Sunday evening.
Students began posting pictures of the incident on social media around 9:00 pm, showing the cart completely engulfed in flames amid the ice storm that hit Toronto this weekend.
A few hours after the incident, a Go Fund Me campaign was started by U of T student David Wosnick in order to raise money for the owner and his family.
As of press time, the campaign has raised over $1900 of its $5000 goal, with over 130 donors.
A similar incident took place at the same location in 2015.