ZAC Efron and Vanessa Hudgen's aren't planning a summer wedding -- despite reports to the contrary.

American tabloid the National Enquirer claimed the High School Musical stars are "looking toward a summer wedding in Malibu - with Zac picking up the tab for the entire affair!"
The mag also claimed that Efron's parents think he's "too young" to wed Hudgens.

But a source close to the couple insists Zac and Vanessa are NOT planning to tie the knot in Malibu.

However, recent reports have claimed Hudgens is keen for Efron to walk her down the aisle.
The actress -- who's been dating the hunky actor since 2007 -- apparently told pals she's keen to make her relationship with Efron official, but he's reluctant to commit.