Reports are that about 7:40 am, a motorcar, loaded with 10 students, collided with another car travelling in the opposite direction along the Martha Brae to Falmouth stretch of road.
Both drivers were reportedly pinned to their respective vehicles and had to be cut out by firefighters from the Falmouth Fire Department.
A number of the students are said to be in serious but stable condition.
The police surmise that speeding may have led to the accident.
The Falmouth police are investigating.