Oh, come on, I said to myself. Sometimes you expect too much. It's just a second-billed, minor musical, so what's the big deal? I don't often make sense when speaking to myself, but this time I just went with the movie and had a good time, at that. The plot gets pretty far afield and far from reality but you have to appreciate the raw energy of the performers in bringing this trifle to comparative life.
The storyline has been summarized by several contributors and everything they say is on the mark; goofy, absurd, nonsensical, gets in the way of the music, etc. but the musical numbers here (all unheard-of songs which never became standards) really enliven the picture and the wait between them is worth your while. The stars are 'B-list' Hollywood stars interspersed with some good character actors, among them Eric Blore, Erik Rhodes, Donald Meek and George Barbier. Also in the cast is Johnny Mercer who wrote the lyrics to all the songs.
Not for modern tastes as clothing styles and college activities (everyone meets at the soda shop?) are very old-fashioned, but you'll especially enjoy "Old Man Rhythm" if you are of a certain age, say around WW II and before. I hope that doesn't make us too old!