The Two Lovers actress has revealed her time at The Spence School in New York which is regarded as one of the top private schools in the US was full of scandal.
She said: "You know there were some salacious things that went on." When asked if she was ever involved, Gwyneth replied: "Well not until I got a bit older!"
The Spence School which Gwyneth attended before spending a year at the University of California is commonly believed to be the inspiration behind the raunchy US TV show 'Gossip Girl'.
The programme is based on a series of novels by Cecily von Ziegesar and follows the tell-all blog of one of the wealthy students.
Gwyneth added: "It's quite interesting, I don't know how much they dramatise the show. But I can see it being a bit salacious."
The TV adaptation stars Blake Lively and Leighton Meester as two of the socialite schoolgirls.