Bob McGraw is in his 12th year of college, goofing his way through life. Bob, Irwing, Gonzer and Max are the four losers forced and bribed to represent their university in an intercollegiate raft race. Forced and bribed into this role, they make some friends, the lovely Heather Merriweather, but mostly enemies, among others a whole team of marines, and preppy IVY-leaguers determined to win.

Bumbling navy officer Lieutenant Humphrey Fairweather (David Tomlinson) is transferred to HMS Berkeley, an old World War II destroyer, to keep him out of harm’s way. But together with Chief Petty Officer Doherty (Peter Sellers), Fairweather gets into more trouble than might be thought possible, with events coming to a riotous conclusion when the Admiralty turn up for an inspection of the ship.