From the guide
Schoolhouse Falls is a smaller but remarkable waterfall in Panthertown Valley. As with all excursions within Panthertown, a trail map is highly recommended. The waterfall splashes into a large plunge pool and allows hikers to venture behind the fall as it flows over. Be careful not to impact the rare vegetation.
For a trail map, find A Guide’s Guide to Panthertown Valley, available at the Highland Hiker and Orvis, both located on the crossroads in Cashiers.
From Cashiers, drive down the hill past Cedar Creek Racquet Club and turn left onto Cedar Creek Road. Continue appx. 5 miles to Breedlove Road. Drive another 5 miles or so to the end of the road, where a gravel road continues on, baring left at the cul-de-sac. Parking is at the end of the gravel road near the National Forest Service sign.
The main trail that leads into Panthertown leaves from the parking area and past a metal gate. Just ahead, sign in at the station (there is a clipboard within a plastic box). Continue ahead to Salt Rock, where there is a majestic view into Panthertown.
The trail loops around and down to the right then left and finally flattens out by a 3-way junction. Continue straight. Soon, there is another 4-way junction. Again, continue straight.
So far, so good. But as you continue on, you will appreciate the value of the map you bought. Pass the Sandbar Pool on the right as the trail follows Panthertown Creek. At (as of this writing) a missing bridge near a right fork, cross the creek and continue ahead. You will soon reach Schoolhouse Falls.
This hike is great with Little Green Mountain as your return loop. Be sure you have a map, or you might inadvertantly be spending the night with the bears.