Premier Gladys Berejiklian said schools would be provided with guidelines by the end of the week to allow for COVID-safe end of year formals and graduations from mid-November.

"We will always rely on the health advice, which recommends COVID safe formals and graduation ceremonies take place from 12 November 2020 after the final HSC exam," Ms Berejiklian said.

"Students are currently preparing for the HSC and deserve to have events to look forward to after their exams."

Wagga High student James Pitstock, 17, said he and his fellow Year 12 students were excited to hear there was still a chance to celebrate the end of the year.

"It's just that one thing we all look forwardd to all year as that last going away thing we're you're with your mates before we all leave," he said.

"For some of us that is the last time we're going to see a lot of those people, because you're all going your separate directions at the end of the year."

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He said students were still waiting to hear officially whether the formal would go ahead, and they were expecting only a sit-down dinner would be allowed without singing, dancing or professional photography.

"It's better than nothing but it's still obviously really disappointing for all of us that we don't get that awesome, end-of-year group activity," he said.

"We're all holding out hope and we're really excited to see ... whether or not we are going to get some kind of normalcy at the end of the year."

NSW Chief Health Officer Kerry Chant said leaving school formals and graduation events until after the HSC exams would reduce the risk of students having their exams or preparations impacted by the virus.