The Storyline of the movie is.

 A high school slacker who's rejected by every school he applies to opts to create his own institution of higher learning, the South Harmon Institute of Technology, on a rundown piece of property near his hometown.

Bartleby (B.) Gaines is a fun loving slacker who, unfortunately, gets turned down for every college he applied for, much to the chagrin of his overly expectant parents. So, with a little cutting and pasting, he creates the South Harmon Institute of Technology, and lo and behold, he is accepted (along with his friends Rory, Hands, and Glen, whose college plans were also all but dashed). However, his parents want to see the website, the campus, and the dean. So now he has his other friend Sherman (who has been accepted to the prestigious Harmon College) build a web page, they lease out an abandoned psychiatric hospital, and they hire Sherman's uncle Ben to be the dean. Problem solved? Not quite. The web page was done so well, that hundreds of students show up at the front door, all of which were turned down by other colleges. Faced with no choice, Bartleby decides to proceed with turning South Harmon into a real college...