Set on the last day of the school year, graduating seniors Jake and Evan come to the realization that their days of binge drinking and half naked co-eds have ended. Fearing graduation and the "real world," they hatch a plan to return for a fifth year. They enlist the help of 8th-year senior and fraternity legend Greg "Fossil" Karanowski (played by real-life 13-year senior Johnny Lechner), who entrusts them with the Ten Commandments on how to stay in college. Between antics from breaking into their professor's office to kidnapping foreign exchange students, this long day of debauchery will be one they will never forget!