07/30/2010 AT 9:00 PM ET
The town of Rhinebeck, N.Y., is abuzz with preparations and news outlets are clamoring for details, but what’s really going on when it comes to the Saturday wedding of former First Daughter Chelsea Clinton and fiancé Marc Mezvinsky?
PEOPLE tracked down some of the juiciest rumors and burning questions:
1. Could it really be costing $5 million?
Not even close. Sources close to the bride’s parents, who are paying for the wedding, cast recent tabloid “guesstimates” of a wedding budget between $3 million to $5 million as so grossly fabricated they are unworthy of comment. One longtime family friend said the wedding is not exceeding six figures – so in the hundreds-of-thousands dollar range, not millions.