A day camp is less costly as it eliminates the need for lodging and evening meals; however, it also limits your time with the participants, so you will need to plan for a five-day event instead of four.

An overnight camp allows you to run more exercises and activities (including night search and rescue) but requires more supervision of the students in the evening and night time hours.

A day camp requires less commitment from the adult sponsors as they can work their normal 8:00-5:00 hours but opens up the options as far as facilities that can be used (i.e. civic centers, fire training facilities, etc.)

An overnight camp allows more team building and bonding time for the participants, but also requires more planning by the organizers to ensure that students do not get bored and mischievous.

In the end, which option you choose will come down to what resources are available to you in the form of staff, adult sponsors, and location options.