The two buses were headed to Stough Elementary when they collided at Ridge Road and Glen Eden Drive.
Marie Conyers was suspended with pay, and scheduled to take a drug test Wednesday afternoon.
Investigators say Conyers smashed her bus into bus 674, which was stopped at the light.
The seven students on board bus 674 were taken by ambulance to Wake Medical Center's Pediatric Emergency Room, as a precaution.
Conyers, who is a two-year employee of the Wake County Schools, must also appear before a school review board because of the accident.
"If she is convicted of this accident when it goes to court, then her CDL license will be automatically terminated," said Wyatt Currin, Acting Transportation Director.
If Conyers is not charged, or her case is dismissed in traffic court, the school's review board will meet again to decide if she may continue as a Wake County bus driver.
There is little apparent damage to the two buses. Officials say they are designed to withstand rear end collisions.
The buses will be repaired and will continue to be used to transport children to school.