The screaching clutch

Hi all,

I've searched through this forum and have an idea of my problem but maybe ya'll can help pinpoint it and maybe estimate cost?

I own an e36 325i '92, and recently when driving my car, in the event that I step on the clutch and release it (usually changing gears from neutral to 1st and 1st to 2nd) I get this horrible screeching sound. Sounds like metal on metal?
Many threads seem to punt the idea that its the clutch going or the flywheel? What do y'all think?
Thanks for the help...