Bob McGraw is in his 12th year of college, goofing his way through life. Bob the slacker, Irwin the alcoholic geek, Gonzer the human food disposal and Max the ne'er do well are the four losers forced and bribed to represent their university in an intercollegiate raft race., They make some friends like the lovely Heather Merriweather, but mostly enemies, among others a whole team of marines, and preppy IVY-leaguers determined to win.