Nervous high school senior Tom Lawrence visits Port Chester University, where he gets a taste of politically correct college life when he's guided by fraternity wild man Droz and his housemates at The Pit. But Droz and his pals have rivals in nasty preppy Rand McPherson and the school's steely president. With their house threatened with expulsion, Droz and company decide to throw a raging party where the various factions will collide.

Three friends attempt to recapture their glory days by opening up a fraternity near their alma mater.