In a frat house called Tri Kuppa Bro, a dean named Fitzroy interrogates three young men, having suspected them of having put a "slime pit" in his driveway and 300 bats in another dean's fridge. The youngsters deny doing it, but Fitzroy isn't convinced and is still angry, especially when a ghost kicks him downstairs.
At the firehouse, some women from a group called the "West Side Women's Club" want to award the Ghostbusters with a plaque, only to become indignant that there's a ghost (Slimer) in the firehouse. Slimer then makes things worse by chasing the ladies away due to wanting the fruit on their hats. The young men enter and explain their problem, but Peter thinks they're pranking them. However, one of them convinces him that they're telling the truth by reciting the fraternity's motto, knowing that this was Peter's old fraternity because he was in the yearbook.
At the Tri Kuppa Bro house, the ghosts pull a prank on the Ghostbusters by wrapping them up in a rug. They split up, and Winston falls through a trapdoor into the laundry, where sheets come alive and attack. The others find him and open fire, but the ghosts escape. They fly to the outdoor fountain, where one makes a goldfish giant and throws the three young men from before, plus one female student, into its mouth as a variation on a "goldfish swallowing contest". The Ghostbusters save the students by shooting at the fish.
The ghosts then enter the cafeteria and make a food fight, then decide that they'll kill the Ghostbusters so they can come back as ghosts and join them. However, Peter tricks them by pretending that girls are behind them, which works, but inspires them to raid the girls' dorm. The Ghostbusters and Dean Fitzroy look the ghosts up in the yearbooks, and find that their leader is named Elwin Spalding, who was the president of a fraternity notorious for both pranks and poor academic prowess, and that him and the others swore revenge once expelled.
They go to the girls' dorm and confront the ghosts. Peter decides to "graduate" them, and the Ghostbusters give fake classes, with Peter teaching economics, Egon and Ray teaching biology, and Winston teaching physics. The ghosts then fly Ecto-1 around, scare the West Side Women's Club (who are awarding a professor) by popping out of the sprinklers, and chase after the Ghostbusters. The Ghostbusters pretend to photograph the ghosts and trap them with a proton pack hidden in the camera, then Dean Fitzroy apologises to the trio of frat boys. However, Peter pranks the dean with a water bucket.
This episode provides examples of
- All There in the Manual: According to a booklet, the frat boys are named Dudley, Specs, and Willis.
- And You Thought It Was a Game: When the frat boys tell Peter about their problems, he initially thinks they're pranking him.
- Animate Inanimate Object: The ghosts bring bedsheets to life.
- Attack of the 50-Foot Whatever: One ghost makes a goldfish grow huge so it can swallow students.
- Book Dumb: Elwin and his group got expelled in life because they never studied.
- Break the Haughty: Played for Laughs — the West Side Women's club are quite a snobby group, and they get harangued by Slimer and the college ghosts.
- Brought to You by the Letter "S": Elwin wears a "G" on his shirt and another ghost wears an "H".
- The Chew Toy: Dean Fitzroy is always at the butt of the ghosts' (and Peter's) pranks.
- Evil Laugh: The prankster ghosts laugh in a sinister way a lot.
- Food Fight: The ghosts throw food in the cafeteria.
- The Hyena: Being undead pranksters, the ghosts are prone to bursting into evil laughter.
- Laughably Evil: The college ghosts do rather comedic hauntings, having been pranksters in life (for instance, having a food fight and making a goldfish huge). However, they're still evil, since they threaten to kill the Ghostbusters so they can join them.
- Literal Ass-Kicking: A ghost kicks Dean Fitzroy down the stairs by his butt.
- Not So Innocent Whistling: Peter whistles when trying to deny having pranked Dean Fitzroy.
- Pie in the Face: During the food fight, Winston gets a custard pie to his face.
- The Prankster: Played for Horror — the ghosts were notorious college pranksters in life, who have now come back as vengeful spirits and their ghost behaviour still resembles practical joking (such as putting bats in the fridge).
- Revenge: The ghosts are pranking the college populace as revenge for having been expelled in life.
- Silly Spook: While still a threat, Elwin and his lot are still mainly played for laughs, being the spirits of pranksters.
- Slapstick: The majority of the ghosts' pranks backfiring on the humans are played for laughs.
- Staircase Tumble: Invoked when a ghost kicks Dean Fitzroy downstairs.
- Sweallowed Whole: Invoked and defied when the ghosts try to have the students be swallowed by a giant goldfish.
- Underwear Flag: Played with — in college, Peter once hoisted his own underwear up the flagpole — while he was wearing them.
