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Where is the best place to spend Schoolies? Byron Bay or Goldcoast?

We did a bit of research on this.

First thing you need to know about dates:
Traditionally Schoolies is held over three weeks, with each week attracting students from a different Australian state - namely Queensland, NSW and Victoria - with up to 35,000 visiting over the course of the festival.

The event is predominantly held on the Gold Coast but destinations such as Byron Bay, Sunshine Coast, Airlie Beach, Tropical North QLD and Magnetic Island are also popular with school leavers.
Gold Coast
If you want a raucous time with lots of partying, alcohol, police, lines and nightclubs, then Gold Coast is your best bet.  But watch out – it’s really crazy out there. About 25,000 Queensland schoolies celebrate their graduation on the Gold Coast, most are 17 year olds. The coppers slap huge fines on those who are caught drinking under age or on drugs.

Here’s the breakdown on who goes to what:
In 2009, Queensland Schoolies attended celebrations from November 21-28.
NSW hit town from November 28-December 6 and Victorian graduates partied from December 5-13.
For 17 year olds:
The first week in the Gold Coast is potentially good for underagers because they host a lot of no alcohol events on the beach including dance parties, concerts and movie screenings.

During the first week of Schoolies, the central section of Surfers Paradise esplanade and beach are fenced each night for exclusive access by Schoolies. Known as the Schoolies Hub, the area hosts a free entertainment program over nine nights (from Saturday, November 21), comprising two stages, LED screen, DJs and late night screenings. Schoolies receive an official wristband which can be obtained on proof of Year 12 student photo ID. If a student photo ID is not available, alternative forms of ID may be considered, including: a driver's or learner licence or Australian passport. There is no online registration for Gold Coast Schoolies.

Gold Coast schoolies who have booked accommodation through schoolies.com must collect their wristband during check-in from a Red Frogs volunteer. Schoolies staying at alternative accommodation or visiting for the day can collect a wristband from the Wristband Distribution Centre located on the Esplanade parallel to central Surfers Paradise Beach (see the Schoolies hub map.

For the Older Crowd:
NSW and Victorian schoolies are older, usually in the 18- to 19-year age bracket, and an estimated 10,000 of them celebrate their graduation in popular Gold Coast nightclubs. This usually occurs during the second week of Schoolies.

Byron Bay

Byron Bay is pretty wild too, but expect less lines, police and hard core antics. I myself would go for this one, but that’s up to you. The best nightspots in Byron Bay include:
Cheeky Monkeys (nightclub)
•    Most Schoolies party here - it is the most popular spot
•    A place where they actually have good music, which you dance to on top of tables
•    Can get very sweaty as it is packed with people
•    It is definitely the place to meet other schoolies, or cute backpackers / tourists
•    Cost - Cover charge to get in, drinks are pretty cheap
•    You can have (cheap) dinners there before it all kicks off at around 10:30pm

Cocomangas (Nightclub)
•    Trendier place , good music
•    Cost - Cover charge to get in
•    Opens around 9:30pm

The Beach Hotel (Pub)
•    Pretty awesome place to go to
•    Has live music/dancing (not every night though)
•    Great view, good of a daytime as well
•    Also one of the most popular Schoolies spots
•    FREE to get in to
•    Gets crowded (but not in a bad way)
•    Bottle shop located underneath
•   
Other Spots in Byron Bay
Byron's beaches are definitely the Schoolies daytime hangout and often the site of impromptu beach parties of a night. Try a surfing class, or Dolphin Kayaking or snorkelling at Julian Rocks. If you want to go sightseeing-got to the Lighthouse, it is a pretty breathtaking view.
The best option for accommodation in Byron is to stay in self-contained apartments rather than hotel rooms. Suffolk Park located just out of town is a good place to stay, renting a beach house is good idea. Although Suffolk beach can get pretty dangerous-big surf sometimes.

After Schoolies
If you’re keen for some fast work to pay back your parents for your Schoolies vacation, enrol in an Queensland RSA course. Barwork is an excellent in-between job while you figure out the rest of your career.