The boys get jobs as a butler and maid-- Stan in drag-- for a dinner party. When that ends in disaster, they resort to sweeping streets and accidentally capture a bank robber. The grateful bank president sends them to Oxford, at their request, and higher-education hijinks ensue.

Rich playboy Drogo Gaines is in imminent danger of marrying a gold digger, and escapes by feigning insanity. The joke's on him when he wakes up in an asylum full of comical lunatics. There he befriends Colonel Carraway, and together they escape, catching a ride with a beautiful blonde who proves to be Penguin Moore, carnival owner.