Schengen Visa from MRU

Hey,
I'll be starting my studies in Mauritius this September and I want apply for a Schengen Visa for Sweden (for December 2015) Will it be possible to do so on my student visa ?

Why don't you ask the Swedish consulate closest to you in India?
Mauritius has nothing to do with Schengen and your student visa is applicable only if you do apply for study here .  You have to see how your Indian passport impact you in entering any Schengen member country.