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Steven Karp is entering his Freshmen year of college. His roommates, Ron, Lloyd, and Marshall decided that in order to get noticed by girls on campus, they are going to throw a party. The party is pretty successful, and Steven is having a good time, until his Father, Hal, unexpectedly shows up. After Hal gives Steven the bad news that he's divorcing Steven's mother, he joins the party. Lizzie, a girl who lives on Steven's floor, had just gotten into a big fight with her boyfriend, Eric, and finds Steven in his room crying about the info Hal just gave him. She suggests that they have sex "for fun". The next morning Steven wakes up to find Lizzie missing and his Father in her place.
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Eric is coming to visit Lizzie at college, and Lizzie decides that she hasn't had much opportunity to see what other guys are like, so she tells Steven that she is going to break up with Eric. Ron was able to get a keg of beer from the multi-cultural department on campus. He can have the beer for free but has to have the keg back by 6PM. So Ron fill all the cups and containers in his suite full of beer, but has to drink it all before it goes flat. So he enlists Marshall, Lloyd, and Rachel to help him drink it all. Marshall, having a drunken epiphany, then decides he is to normal and needs a way for him stand out. Lizzie ends up breaking up with Eric, but then Steven finds him crying in the bathroom, and helps Eric successfully win Lizzie back.
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Everyone in the group signs up for a credit card at an on-campus booth. They all decide to use their money in unique ways.Ron and Lloyd buy stocks in a company that grow organs in petri dishes. The investment proves successful, so they begin living large: smoking cigars, buying leather jackets, and talking business constantly. The investment soon takes a turn for the worse when the stock plummets. The guys begin to feel the weight of the stress from debt and have to figure out petty ways to earn the money back.Marshall withdraws cash that he never spends. He uses it to create "the wad' of cash in order to boost his social status, and he fills a briefcase full of money for the thrill of it. In the end, he helps Ron and Lloyd get out of debt.Lizzy and Rachel attempt to buy 'A' papers from college burnout, Dave (Will Ferrell) after Steven gets an 'A' on his first purchase. When Dave doesn't come through for them, thanks to speed and video games, their grades drop and their stress rises. Eventually, they all have to do their own work, but they pay the consequences of caffeine, insomnia, and guilt.
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Marshall gets sick, and instead of going to the campus health clinic like he had planned, Rachel persuades him to use natural remedies. Steven is getting irritated that he always has to sleep in on the rec room couch because Lloyd is constantly having sex. Steven convinces Lloyd to try to stick with one girl for a little while. But Lloyd's first attempt at a steady girlfriend isn't a great experience. Meanwhile Steven discovers a whole group of people in the common room who've been exiled because their roommates are having sex too, and forms a bond with them.
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Adam Sandler stops by the campus to perform, and the whole group goes to see him, including Steven's dad, Hal, who was invited by Lloyd. Perry invites Adam Sandler and his entourage to stop by their dorm afterward. Sandler doesn't stay long because Hal makes him uncomfortable, but takes Lizzie with him back to his hotel. Lizzie ends up having sex with him. Sandler's assistant, Jonathan Loughran, ends up falling in love with Rachel and decides to stay behind after Sandler leaves town, and stays on campus living in Rachel's room wreaking havoc in her life. Lloyd convinces Hal that they should go experience the real world for a while, and Hal has some "extra curricular" activities in mind.
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Steven thinks that since he had sex with Lizzie, they are now a couple. Lloyd explains that the sex was just typical, casual sex, but Steven is convinced that Lloyd is wrong. Steven finds out that Lloyd was correct, and that Lizzie already has a boyfriend, Eric. Steven tries to win her over by spending time with her. He invites her to a viewing of
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Steven is forced to get a job on campus, after his dad's tuition check because he doesn't have a job. Unfortunately Steven's job is officially the worst job on campus. He ends up working with Marshall in the school cafeteria. Being that this is his first job, he's completely unprepared. And he has conflicts with the manager who has chosen Marshall as his favorite employee. Rachel becomes interested in Lloyds acting class partner gets Lloyd to set them up. Only Rachel finds out that she can't stand his habit to constantly speak in celebrity impersonations.
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Ron has a crush on a campus tour guide, Kelly, and she ends up getting invited up to the guys dorm for a rousing game of "Truth or Dare". Lloyd and Marshall compete for Rachel's affection, and Ron tries to impress Kelly. Steven gets upset when Lizzie is dared to talk about her best sexual experience, and it doesn't involve him. It ends up being a good night for everyone except Lloyd and Marshall, as everyone else starts pairing off.
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This unaired episode centers around Steven becoming obsessed with the bible and God after Luke persuades him to follow the enlightened path while Lloyd decides the world is a dark and hopeless place of destruction. Ron convinces Lizzy to dump Eric and hook up with Steven but she is turned down because God is Steven's life now. Tina wants out of her room and into the newly vacant room co-existing with Lizzy and Rachel because her roommate won't stop practicing violin but Marshall and Rachel turn it into a party room and tell Tina it's no longer available. When Steven sees Luke making out with a girl he realizes what a mistake he's made and tries to get back with Lizzy but she is already back with Eric. Rachel's guilt gets the better of her and she finally let's Tina move in to the room while the same violin playing roommate that drove Tina out, makes Lloyd realize the world is okay when he hears her practicing. This episode is available on the DVD box set.
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