(The CW) NEW YORK - Every week, 'Gossip Girl' know-it-all Rachel Seidman-Lockamy will recap the latest episode. All the dirt, all the drama from the privileged kids on the Upper East Side.

Hello Gossipers. Time for the last big hurrah for our favorite Upper East Siders as high schoolers. It's graduation time, and the team are ready to be free of the drama and Gossip Girl.

Turns out Gossip Girl's latest twist was sharing Serena's recent arrest with the world. Can't feel good to have that mug shot out there. I mean, seriously, S, at least your mom tried to compose herself for hers! Anyway, B dishes on S being GG's first blast back in the 9th grade. S begs for a change of subject, and B's happy to provide one. Seems S dished on Chuck totally admitting to loving B and she's frustrated he can't say it to her face. Serena and Blair take off from the restaurant and the paparazzi are totally all over the blonde bombshell. B pauses for a moment outside the limo, taking in the flashing bulbs, secretly hoping for a moment in the limelight. Oh, B. Don't let being Prom Queen go to your head! It's so hard to fit through a door already.

At graduation V and N catch up. She's armed with her usual video camera, stalking all her favorite UESers. Nate apologizes for the mess he put her through and she brings up their dead backpack trip. Lonely Boy sneaks up on the two, and Nate officially invites both of them to his after party.

Lil J and Eric strut through the halls, eager to be rid of the Mean Girls for good, but they show up on cue, letting Jenny in on a secret; just because one group of mean girls go away doesn't mean another won't rise up in their place. To boot, that little teenager Blair rescued earlier this season who was on a trip to lose her virginity in one night? Yeah, she's transferring into Constance with an attitude and is ready to take on Lil J for right to prance Constance's halls as queen. Whoever brings the biggest piece of unbroken gossip to Nate Archibald's party gets the right to be queen. Can't wait for the juicy details.

Serena finds Dan waiting in the courtyard, and may we say, your blue dress totally clashes with your green gown, S. You may be fashion-forward, but this is a big no-no. Lonely Boy's hurt because his name was left off the list of graduating seniors, but S says it makes him special.

Like a bee buzzing towards her favorite flower, Blair makes a point to corner Chuck. She tries to break the news to him that she and Nate are officially over, but the words get stuck in her throat.

Lilly and Rufus show up to the graduation only to remember they reserved their seats together, making for an awkward ceremony. To make things worse, a very in-love Mama Waldorf and Cyrus Rose show up begging Lilly and Rufus to tie the knot. Of course, they have no clue the happy couple ended things last week. This is proof the drama doesn't end in high school. The teenagers file in for graduation to the sound of applause.

B admits she chickened out talking to Chuck, but Serena tells her they're all going to move on. By the way, S is totally rocking her cord on her head rather than on her cap. It's awesome to see her so free and happy, but of course it doesn't last. Gossip Girl sends out a blast naming her class accolades. Turns out Nate's the class whore, Blair a weakling, Chuck a coward, Dan an insider, and poor Serena's about to become irrelevant. S declares war on Gossip Girl, and at the after-party S tries to ask the Mean Girls for help, but they're not willing to put things on the line. Nate runs off to do damage control while B goes to gather intel and Chuck promises to run stats.

Nate approaches his Grandfather to let him know that he has a secret that may come out. He lets his Grandfather know he had an affair with an older, married woman who paid him. Grandfather says he will protect his grandson and hopes word doesn't get out. As soon as Nate's alone, Chuck walks up asking where Nate's girlfriend has gotten off to. Seems Chuck still hasn't gotten the memo; Nate and Blair are no more. Will this info be enough for a Bass to take another stab at love?

V and Dan chat about ditching the party to go to a donut shop, but S tries to recruit them into fighting back against Gossip Girl. V excuses herself giving S and Lonely Boy a chance to talk. Turns out he's taking his Daddy's point of view on the world, trying to let the distance separate him from Serena. So, the Brooklyn duo skip out on the party while our favorite team, Blair, Nate, Chuck and Serena do what they do best; scheme against anyone who would hurt them.

Chuck deduces Gossip Girl is a senior like them, meaning she's likely in the room. Chuck runs down the list of women, but to cut out the middle man, Serena sends in a tip to see whose phone goes off. Turns out Eric's boyfriend, Jonathan, has the phone that beeps. He claims he's not Gossip Girl, but that he tapped into her computer over spring break. He shares his gathered info with Serena, Eric and Jenny. Turns out Gossip Girl doesn't churn out everything she sends. She likes to sit on things for a while. While Serena and Jonathan take off to parts unknown, Lil J shares a juicy bit of gossip. She doesn't want to use it, but if that means ending the monarchy for good, she may be willing.

Dan tries to sneak through the loft, but Rufus stops him, saying he might not want to ditch on his senior class that quickly. The words give him pause and he calls up Lilly, who shows up bearing beer and some other miscellaneous items. She's feeling a little old since the kids graduated, so she wants to come do something crazy and stupid. Turns out she snooped through Chuck's room and found a brown bag of some special stuff, and they both take stock in Chuck's excellent taste because they have no qualms over sharing the good stuff.

Over at house Waldorf, Mama Waldorf helps her little girl get dressed and notes how foxy her daughter looks. Mama Waldorf asks if she's dressing for anyone special, and B admits she's hoping this man is ready to love her the way she sees her stepfather dote on her mother. Mama Waldorf blushes, then spills that she heard about B's confession of love to Chuck and how he ran away. "Don't let him get away with it," she whispers in her daughter's ear. Looks like Mama Waldorf approves of her daughter with the Bass.

The party's all the rage with lots of alcohol, making out, and a very drunk Nelly Yuki. V and Lonely Boy step right into Nelly's path, and she totally almost confesses her love for him before spotting S across the room. Apparently just the sight of Serena Van Der Woodsen can scare off potential suitors for Lonely Boy. Chuck steps into the room, immediately spotted by Blair. However, Lil J stops her and threatens to use the New Years' dirt. Remember that? Blair slept with Chuck's uncle? Oh, yes, that's great dirt. B blows Lil J off so she can talk to Chuck, and while we understand, we think it's all going to blow up rather nicely in Blair's face.

B and C step into a back room to chat. She asks him about her coat, her headband, her stockings. Every time he expresses an enjoyment for the item, moving from like to admire to adore. He totally doesn't mind the secret door shake down until Blair turns it serious, taking it away from their usual games. She wants to know what he thinks of her, how he feels about her. Chuck looks like he's about to break, but a cell phone alert pulls them out of the moment. The whole party gets the blast. Turns out Gossip Girl saved all her best gossip for last.

She lets loose about Chuck sleeping with V, about Blair sleeping with Uncle Jack, about Dan and his teacher, about Nate and Lil J, about Dan being in jail… It's all coming out. The team starts going after each other. Serena tries to mend fences, but Chuck and Blair are both spitting mad, taking out their aggression on their friend. The Mean Girls congratulate S for her total takedown of everyone, and P asks Lil J what the big gossip was. Too late. Gossip Girl already spilled all. Looks like the monarchy reigns at Constance another year.

Blair and Chuck return to their little room, both upset with one another. She corners him, saying she refuses to be the weakling Gossip Girl says she is. B reminds Chuck that he told both Nate and Serena how he felt, but didn't tell her. Blair holds his face and tells him how much she loves him. It freaks Chuck out to hear the words said to his face, but his hurt comes out and he pushes her away saying it's not enough anymore.

Lilly and Rufus sit on her floor totally blitzed. They recall past memories, old times that were so much fun. Now that they're relaxed, they start talking about their relationship again. He grabs a concert bracelet and offers it to Lilly as a temporary engagement ring. The two giggle like teenagers and for a moment forget the drama and just love one another. Aw.

Serena stands outside the party freaking out, but Nate tries to make her feel better. She sends an e-mail to Gossip Girl saying if they don't meet up then the word will be out on who GG really is. Of course, it's a lie, but Serena hopes Gossip Girl falls for it.

In the bathroom, Blair and Lil J square off. Jenny didn't get to use her gossip. So, B gives Lil J something to use. Turns out, Jenny's too warm-blooded to be Queen, and B admits you have to be cold to hold the position. Though B knows she doesn't get final say on who rules the school, she still bestows her blessing on Lil J.

At the meeting place, Serena holds her martini glass as they wait. Dan walks in, and both Nate and S freak out at him being Gossip Girl. Turns out, it's a ruse. That crafty Gossip Girl invited all of her informants for a little meet-and-greet. The room fills with Constance teens and Gossip Girl ominously informs them she'll be with them in college. Looks like graduation's not enough to separate the gossip from the girl. Serena offers the whole group a round on her, and who can stay mad after that?

B apologizes to S for her earlier words, but the besties quickly make up. Serena asks about Chuck, but Blair says it's all over. She's trying to be strong, but a glance out the window shows her a lonely Chuck. He walks away without another word.

One week later, Lilly and Rufus fawn over her engagement ring while Lil J and Eric chill in the kitchen. Back in Serena's room, Blair's helping her bestie pack for the summer. Turns out Chuck's been in Europe for the past week. How do we know? Gossip Girl. Looks like she's not waiting til college to continue stalking our favorite Upper East Siders. B presents Serena with a present, her mugshot framed.

Serena tries to invite Blair along on the ride, but our favorite brunette thinks she needs to stay still for a little while.

At NYU, Dan and V sit in a coffee shop chatting about how odd it is to be out of high school. Nate shows up to share that the deputy mayor made a pass at him, so he is ditching his summer of work in place of a summer of backpacking with Vanessa. She tries to fake that she has another date for the trip, and a random guy in the coffee shop tries to cover her back, apparently making a pass at her. When he doesn't know V's name, though, the truth comes out. V still planned on flying solo for the trip, but Nate's dying to do it with her. Maybe a backpacking trip could be fun! She gives in, and the two take off to places unseen.

So, the random guy strikes up a short conversation with Dan. Turns out his name's "Scott" and he just transferred to NYU. Dan says maybe he'll see him around next semester and takes off to rejoin with his friends. Scott stays back to talk on the phone. He told his parents he was off to Portland, but it's a total lie. He's in N.Y. and he's holding a newspaper clipping of Lilly and Rufus. Think this is the long-lost love child? We can't help but wonder!

Georgina calls Dan from a blocked number and lets him know his money is back so he can go to Yale. He tells her plans changed and now he's off to NYU. Turns out Georgina is, too, and she's begging to room with a certain Queen B.

At a private luncheon, Blair and Lil J bust in on the party. If you recall, several months back Jenny amassed a lot of dirt on the Mean Girls in an effort to protect Nelly Yuki. Now that Nelly Yuki's fair game, Jenny lets loose her gossip and B gives her the crown. When P tries to make a fuss about a Brooklyn girl taking on the crown, Blair reminds her that Rufus is about to marry Lilly. That means Lil J trumps all of them in the money department. Jenny slips into her role easily.

Carter Baizen shows up. We last saw him forced out of town by one Serena Van Der Woodsen. This time, he's not here to be the latest gossip but to dish; he found her father in Fiji. The two take off together for that big adventure, and we wonder if S will come back married from this little venture out of the country, too. She does have a reputation to live up to.

Blair walks down the street, no longer Queen of Constance, but just a girl. Who should she find but Chuck Bass, arms filled with gifts. He tells her he got her favorite macaroons in Paris, and in Germany he got her some stockings since he adores them so much. Turns out he had to come back because she followed him everywhere he went. Chuck Bass smiles at Blair and says those three words, eight letters that she's been waiting to hear all season. The two kiss, and it's perfect. She begs him to keep saying he loves her, and he obliges, saying it between kisses. Who knows how next season will go with these two lovebirds finally on the right page again! At least she doesn't know about her room mate situation, yet. That'll put a kink in her romance life.

That's it for season two. See you back for more gossip in college.

(The CW).