Christian and Jackson gets jobs working in a bakery. One of their customers is particularly obnoxious. Later they find that the new roommate for the departed Lazzarini is Dwayne ""Excess"" Wilson--the same customer that has given them such a hard time at the bakery! In short order, Excess soon has the girls feeling the same way about him that the guys do. Also, Ashley tries her hand at a new enterprise: dog training.
Jackson and Christian are given the responsibility of hiring a much-need assistant for the bakery. After interviewing several oddball applicants, Jackson hires Alicia for the job. But soon Jackson starts up a romantic relationship with the pretty new assistant, leaving Christian to do all the work. Meanwhile, Excess goes into the business of entertaining at children's parties, a gig that proves so lucrative that the girls join up.
Life would be a lot easier for the gang with a car, they all believe, and Excess suggests they all pool their money and buy one together. They aren't happy, however, when they see the wreck that their new roommate buys for them. Excess, still trying to prove himself to the rest of the gang, is hurt that they don't trust his judgment, and indeed, everyone starts to change their minds after Excess spends hours fixing the car up and making it very presentable. But then they take it for a spin with Ashley at the wheel and have an accident. Also, Lauren is dating co-worker Kevin. She's really taken with him, but Kevin is super-secretive about certain areas of his life.
Excess applies for a ""VJ"" job, and to his great delight, he gets it. But the fame and attention the new job brings goes straight to his head. Meanwhile, the prophecies in fortune cookies all seem to be coming true for the gang, except for Ashley, who hasn't yet met anyone famous as her fortune predicted.
Liza, Excess' former girlfriend, comes to Paris. Though Excess is still hopeful of getting back together with her, she plans to tell him the relationship is over for good. Before Liza can do that, she meets Jackson and kisses him. When Excess finds this out, it causes a great strain between him and Jackson. Meanwhile the other four roommates pile into the car for a road trip. A tire goes flat in the remote French countryside. They go looking for aid at a farmhouse, which is occupied by a very weird (and scary) woman and her son, who want Winnie for the son's bride! Also, a new substitute teacher shows some interest in Mr. Elliot, prompting an outburst of jealousy from Ms. Dupre.
At the dress shop where she works part-time, Winnie tells visiting designer Claude Perrier what she really thinks of his new designs--and it's none too complimentary. The store's owner Fifi fires her immediately, but M. Perrier decides he likes and agrees with Winnie's honest criticisms and gives her a job as a designer herself. Immediately Winnie believes that she's ""all that"" now, but her career as a designer is not destined to last very long. Also, while playing around on the roof with the others, Ashley accidentally knocks a bottle off the ledge. Later there are news reports of the death of the Sultan of ""Bangistan"" by a falling object, and Ashley and the gang are convinced it was their fault.
Lauren, who excels in science, helps Jackson study for an important exam on the subject. Amazingly, Jackson scores higher than Lauren or anyone else on the exam. This qualifies him to be the American School's entrant in the science tournament, the same tournament Lauren had her heart set on competing in. Also, for the other four roommates, bowling turns from a fun form of recreation to cutthroat competition.
Excess works with Ashley on a pottery class project and becomes more and more attracted to her. The other girls can see this and they tell Ashley about it. Ashley doesn't believe them until Excess kisses her. She doesn't share his feelings, though, but is afraid to hurt Excess by telling him she'd just like to remain friends. Meanwhile, the others plot to stage an entry for the ""Paris' Funniest Home Videos"" TV show, but they accidentally submit a tape of Mr. Elliot singing in the shower!
Ashley hopes that Tom Prince will ask her to the big dance, but alas, he doesn't. On the night of the dance, she falls asleep and dreams that she is ""Cinder-Ashley,"" who lives with her wicked and cruel stepsisters Winnistasia and Laurzella. Will her (Tom) Prince come to her rescue?
Winnie is showing a new freshman named Renee around the campus. Christian is really put on the spot when Renee stars flirting heavily with him. Also, new competition for the USA Cafe appears in the form of Pete's American Diner.
Excess' dad, a member of the diplomatic corps, sets up his son on a blind date with a colleague's daughter named Tyra. Desperate to get out of it, Excess enlists the help of the other guys in faking an excuse. But he immediately regrets his actions the first time he lays eyes on Tyra. Meanwhile, Ashley's novel, based on he life at the Academy, is being serialized in the school paper. It's a big hit with everyone until a later chapter contains some uncomplimentary portraits of Lauren and Winnie, along with Ms. Dupre and Mr. Elliot.
Lauren is dating a rich guy named Darren. Excess and Jackson tell her she's only dating him for the material things he can give her. But the guys start getting some of the benefits of Darren's free ways with his money, and when Lauren is ready to break up with him, they try to talk her out of it. Mr. Elliot gets sick at a most inopportune time--right when he's supposed to take out Ms. Dupre on their first real date! Christian forgets Winnie's birthday and Ashley tries to help him find a last-minute gift.
Jackson is encouraged by the talent scout for a TV variety show to submit a video of himself performing. Excess lines up director Joey Avalon to shoot a video for Jackson, but the unprofessional antics of Jackson's co-starring roommates disgust the director and he stalks off leaving the job undone. Meanwhile, Lauren finds out the identity of her secret admirer, a guy named Larry. She likes him and starts dating him, but has a hard time with the fact that he is much shorter than she.
Christian is offered a full athletic scholarship to UCLA to play basketball. But Winnie is saddened by the thought of her boyfriend attending a school many thousands of miles away from her. Is it too much to ask Christian to give up this opportunity? Meanwhile, the rest of the gang is picked as a subject for the ""Real Life"" documentary series, but the producer soon finds them too boring and sets out to spice up the story.
Jackson is filing out his application to the Julliard School of Music when he is stuck for an answer to an essay question about his greatest high school achievement. The gang tries to help him by reminiscing about some of their exploits over the past year.
The girls have been skipping out on Mr. Macafee's gym class and are trying to make it up as the school year draws near an end. Macafee uses the ""honor system"" for grading, and the girls foolishly give themselves high marks. This leads to their instructor entering them in a big gymnastics competition against a school rival! Meanwhile, Mr. Elliot is finally ready to ask Ms. Dupre to marry him, but his attempts at proposing to her are constantly interrupted.
Ashley has done well in her psychology class and offers some advice to Lauren, Winnie and Christian that has positive results for them. Emboldened by this success, Ashley continues to give out advice on various matters, but with much worse consequences. Jackson and Excess come up with a new moneymaking scheme involving selling clothing.
The day many thought would never arrive is getting closer: Ms. Dupre and Mr. Elliot are getting married. The rest of the gang is excitedly making preparations but Ashley finds that she doesn't want her father to marry again and determines she must stop the wedding. Meanwhile, Mr. Elliot isn't doing his own wedding plans any good when he disappears from his bachelor party with a couple of hula girls in tow!
The gang wants to have one big final blowout of a party to commemorate the end of their senior year. To do this, they must convince the newlywed Mr. and Mrs. Elliot to go on their honeymoon before graduation. Excess is so worried about his upcoming interview with Mr. Smithee of Yale University that he is driving everyone else to distraction. To take him down a few notches, Winnie gets an actor acquaintance to fool Excess into thinking he's Smithee. But when the real man shows up later at the big party, Excess assumes another joke is being played on him and lays a ton of insults on the man from Yale.
Graduation time has almost arrived and the friends are reacting with different emotions ranging from excitement to regret. All that stands between them and their college careers is Mr. Rydbeck's history final. Jackson once again is drawn to Lauren, giving her a kiss and telling her that he loves her. But then a bombshell is dropped on the students: no one passed the history test; no one will graduate!
Lauren decides not to get involved with Jackson again. The gang finds out that Ashley, who is Rydbeck's class monitor, switched exams, ensuring her roommates would fail. When they confront her about this, Ashley admits what she did, saying she didn't want to say goodbye to all her dear friends. She asks for the gang's forgiveness and receives it. Lauren has rethought her decision about Jackson and admits to herself--and to Jackson--that she still has feelings for him. The two make plans to spend the summer together backpacking across the continent.
The graduation ceremony finally takes p