On arriving at his dorm, Erik meets a girl named Ashley Thomas while she is taking a shower in the coed bathrooms. He then meets his new roommate Bobby and his girlfriend Margie while they are having sex. They meet Wesley, the rush chair of Beta House who experiences blackouts after drinking alcohol, and learn how they can gain eligibility to pledge for the Beta House.
They are also informed by Dwight that the Geek House, formed by wealthy nerds, has been trying to shut down Beta House. Erik and Ashley begin dating, but on their first date at a restaurant, Erik has hot soup spilled accidentally on his legs, so Ashley brings him to her room to clean up. As Ashley rubs lotion on Erik's thigh, he develops an involuntary erection and accidentally ejaculates over her possessions.
Erik apologizes and explains to Ashley that, after breaking up with Tracy, he has not ejaculated in four months, masturbation being a taboo in his house because of a previous incident. Meanwhile, Cooze falls in love with Ashley's roommate Denise; however, she is nervous about showing her genitalia and having sex with him, so she gives Cooze a handjob instead.
After talking with Erik, Bobby, and Dwight about Denise, Cooze develops suspicions that Denise might have a penis , so Dwight encourages him to find out. Along with two other pledges, Erik, Cooze, and Bobby complete fifty tasks to pledge the Beta House, including: While completing these tasks the Beta House members are banned from the Silver Dollar, their favorite strip club and bar, after the Geek House buys the locale.
After they complete their final task stealing something from the Geek House , Edgar, the president of the Geek House, challenges the Beta House to the Greek Olympiad, with the winners taking the loser's House. Before the competition starts, Dwight learns from Rock that while attempting to join the midget fraternity, Edgar had sex with a sheep previously.
Being the Olympiad's last winner, Beta House alumnus Noah Levenstein returns to campus to officiate the competition. The first game is won by Beta House as Dwight and Edgar compete in removing girls' brassieres. Geek House win the next three matches: Beta House wins the fifth and sixth competitions: Having won the Geek House mansion as well as its members, the Beta House hosts a toga party , while Erik comes up with the idea of a new pledge task for the Beta House — having sex in a movie theater.
He does so with Ashley in a makeshift theater in his room. Meanwhile, Cooze and Denise finally sleep together, and Cooze discovers that what Denise is hiding is the fact that she ejaculates during sex, much to his excitement. The following morning, Wesley wakes up after a blackout and discovers that he had sex with the Geek House female bodybuilder.
In a post-credits scene , Edgar instructs a stripper at the Silver Dollar to dance with the headpiece of the sheep costume.