A snobbish investor and a wily street con-artist find their positions reversed as part of a bet by two callous millionaires.

Peyton and Barney are fun loving high school students working on a science project with white mice. When one of the mice begins to move food toward itself with out touching it, Barney finds he has accidently discovered a formula for telekinetic powers.

At a 1962 College, Dean Vernon Wormer is determined to expel the entire Delta Tau Chi Fraternity, but those troublemakers have other plans for him.

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