When John Roberts, Sr., the co-owner of the Roberts Doll Manufacturing Company of Silverton, New York, hears from his assistant, Paul Parker, that his son Johnny is spending more time on co-ed Marion Beecher than on his academic studies or on his childhood sweetheart, Edith Warren, he leaves immediately for Fairfield College to assess the situation personally. Unable to dissuade Johnny from pursuing Marion, Mr. Roberts decides to enroll in the school as a freshman and keep an eye on his son's activities. After quickly becoming the most popular student at Fairfield, Mr. Roberts makes Pinky Parker, Paul's shy son, his confidant. At Pinky's suggestion, Mr. Roberts writes a letter to Paul asking him to write back and pretend that the toy business is bankrupt, in hopes of fooling Marion into thinking that Johnny's fortune is lost. The letter, which has been entrusted to Phillips, an absent-minded school employee, is never sent. However, because of Mr. Robert's much publicized collegiate antics, the business genuinely begins to fail, causing Paul and partner Frank Rochet to panic. Marion, meanwhile, fights with Johnny over Edith and then plays on Edith's innocent kindness by threatening to quit school, which encourages Johnny to propose an elopement after the prom. At the dance, Mr. Roberts is relieved by the arrival of Paul and Rochet, who discuss the financial troubles of the toy company in front of Marion. As predicted, Marion has a sudden change of heart and jilts Johnny, who, now wiser, returns to the faithful Edith, thus allowing his father to end his charade and rescue his business.