In this lively campus-set musical comedy, a budding entrepreneur nearly loses everything after his get-rich quick scheme to earn money selling "flunk" insurance his fellow students goes terribly awry. The plan was to sell the insurance for fifty cents a shot. In exchange, any policy-holder who flunks a test will get a ten dollar settlement. At first the young fresh fellow makes a mint, but then a particularly strict professor sees fit to flunk an entire class, all of whom are insured. Keep a sharp eye peeled for a young Alan Ladd in a bit part.