A Vermont school principal said the five teenagers, who were all riding in the same vehicle, were high school juniors.
Four were students at Harwood Union High School, co-Principal Amy Rex said, and a fifth student attended a different school.
"This is an unprecedented tragedy; we have suffered a tremendous loss," Rex said. "These students were vibrant members of our school community, actively involved and all with a promise for a bright future."
The alleged wrong-way driver, identified as 36-year-old Steven Bourgoin, remained hospitalized with unknown injuries, police said.
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The high school opened yesterday and will be open on today's holiday for anyone wanting to meet with a crisis team.
A vigil will be held at the high school at 6:00 PM today.
Emergency dispatchers started getting calls about a vehicle traveling north in a southbound lane of the interstate late Saturday. State and local police officers tried to locate the vehicle, but soon began getting reports of the crash.
As the officer tried to extinguish the fire, a man, who authorities later identified as Bourgoin, took the officer's police cruiser and began speeding away.
When a Richmond police officer tried to stop him, Bourgoin turned the cruiser around and began heading north in a southbound lane, back toward the crash scene, police said.
The cruiser then struck seven vehicles. Bourgoin was thrown from the cruiser, which also burst into flames, police said.