Twelve friends spend one last great summer together, partying and reminiscing, ultimately realizing they will soon go their separate ways in life

College and high school serve as the backdrop for two stories about dysfunction and personal turmoil.

At popular South Beach University, filthy rich super-snob Victoria English is the absolute queen of leading Greek student club, Sigma Sigma. In order to achieve her crowning ambition, winning FHM Magazine's annual best sorority, she must recruit atypical 'Sigmies' to fulfill the diversity criteria. Ambitious sycophant pledge Kristen Haas helps her attract 'losers' (too poor, ugly, unfashionable), who are cruelly put through excruciating hazing, without intent to actually enroll them. Gloria, the brightest and most assertive pledge, wins the heart of Derek 'baby Dick', Victoria's ideal, yet constantly abused boyfriend, whose bitch-addiction is cured by this alternative lover. Together they lead the revolt of the not-even-nerds.

When given an ultimatum by his girlfriend, an underachieving college student must choose between her, his chauvinist friend and his self-respect while an eccentric Sociology Professor puts them all to the test.

Some college students manage to persuade the town's big businessman, A. J. Arno, to donate a computer to their college. When the problem- student, Dexter Riley, tries to fix the computer, he gets an electric shock and his brain turns to a computer; now he remembers everything he reads. Unfortunately, he also remembers information which was in the computer's memory, like Arno's illegal businesses..

Final year mechanical engineering students, Romario, Riyas, Yoodas, and Athmaram think their lives are miserable since there is not one single girl in their class. Much to their joy, a girl called Riya joins their class and soon becomes friends with the boys. Termed as 'mechrani' of the college, all the boys from the mechanical department begin to flirt with her, leading to comical situations.

Professor Mathew Idikkula who reformed the atmosphere of a college by developing a healthy relationship between teachers and students. The film reflects the goodness of the youth and the impact the students can have.

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Bob McGraw is in his 12th year of college, goofing his way through life. Bob, Irwing, Gonzer and Max are the four losers forced and bribed to represent their university in an intercollegiate raft race. Forced and bribed into this role, they make some friends, the lovely Heather Merriweather, but mostly enemies, among others a whole team of marines, and preppy IVY-leaguers determined to win.

After college graduation, Grover's girlfriend Jane tells him she's moving to Prague to study writing. Grover declines to accompany her, deciding instead to move in with several friends, all of whom can't quite work up the inertia to escape their university's pull. Nobody wants to make any big decisions that would radically alter his life, yet none of them wants to end up like Chet, the professional student who tends bar and is in his tenth year of university studies.

Desperate, broke, and out of ideas, four college seniors start a fake Christian charity to embezzle money for tuition.

A high school slacker who's rejected by every school he applies to opts to create his own institution of higher learning, the South Harmon Institute of Technology, on a rundown piece of property near his hometown.