Mitch, a thirty-something man, finds himself single after discovering his girlfriend's infidelity. Seeking a fresh start, he moves into a new house located near a college campus. His best friends, Frank and Beanie, see Mitch's new bachelor lifestyle and location as an opportunity to recapture their glory days. They convince Mitch to throw a massive party at his house, which quickly gains legendary status among the college crowd. The success of the party inspires them to take a step further in reliving their youth.

Beanie suggests the outrageous idea of starting their own fraternity, though they are far from the typical college student age. He argues it would be a way for them to enjoy the perks of college life without the responsibilities of actual students. Mitch is initially reluctant but eventually gets swept up in the excitement. The newly formed fraternity quickly attracts a diverse group of non-traditional pledges who are looking for a second chance at the college experience. As they embark on this unconventional journey, they must navigate the challenges posed by the university administration, rival fraternities, and their own personal responsibilities that threaten to derail their attempt at recapturing their youth.