At Billingsley University, the students in the McMartin Hall dorm unwind as Christmas break approaches. [Styles] hires [Dominique] to take the virginity of his younger brother [Booker], who remains faithful to his girlfriend [Rachel]. At the same time, [Gerri] receives an unexpected handbag containing $30,000 and a note from a sender named Lorenzo, implying it is payment for a job. After calling Lorenzo, she realizes he believes she is the professional criminal Britney "The Snake" and insists on meeting to plot another heist. [Wang] is expecting a French exchange student—also named Dominique—but asks his friends to watch over her until he returns. To keep to himself after a breakup, [Pete] lets his friend [Cliff] stay, and [Cliff] pretends to only speak French to dodge interaction with the others.
[Adrienne] avoids the nerdy [Newmar], whom she kissed the night before, because she secretly loves [Foosball], although he is gay. When the arrival of a student named Dominique disrupts the dynamic, [Styles], assuming she is the prostitute, tries to pair her with [Booker]. Meanwhile, [Foosball] meets the prostitute Dominique and mistakes her for the exchange student; she pretends it’s part of his fantasy and, even after realizing the mistake, continues the act after [Marla] and [Lynn] threaten to call the police on student Dominique for prostitution.
[Claire] overhears [Tony] practicing a dramatic scene with Adrienne and assumes they are having an affair. Attempts to confront Adrienne fail because she’s avoiding Claire after losing Claire’s cherished handbag, which resembles Gerri’s cash-filled one. Gerri tells Adrienne about the cash in front of [Cliff], thinking he cannot understand the situation. [Marla] and [Lynn] then pair Cliff with the prostitute Dominique, believing they are both French. When Cliff discovers she is the prostitute, he recruits her to help steal the money. Meanwhile, Claire confronts Adrienne about the supposed affair, while Adrienne believes Claire is talking about the lost handbag.
As the days unfold, Adrienne writes a letter confessing her feelings to [Foosball], and [Newmar] writes a love letter to Adrienne, while [Cliff] scribbles a note to [Gerri] demanding the handbag. The letters are swapped: Newmar’s goes to Foosball, Cliff’s goes to Adrienne, and Adrienne’s confession ends up in [Tony]’s room after Gerri writes a number on the back of it for him, leading Claire to believe there is an affair. Adrienne then discovers Foosball is gay and misreads Newmar’s letter as a coming-out confession.
Gerri entrusts Adrienne with the handbag, but Claire pretends the bag belongs to her and steals it, delivering it to [Tony]. The prostitute Dominique tries to take it from him, but it is knocked down the stairs and picked up by [Styles] when he notices the cash. She seduces Styles, cuffs him, transfers the cash into her own handbag, and tosses it out the window, only for [Wang] to find it and bring it to [Newmar], who believes it is the one Adrienne has been seeking.
The police arrive and arrest Lorenzo, a wanted criminal, and the prostitute Dominique after student Dominique presents her passport. Claire and Tony reconcile once the misunderstandings are cleared. The restrained Styles confesses to [Booker] that he is a virgin, only for Booker to reveal that he and [Rachel] have now had sex.
Newmar hands the handbag to Adrienne and explains that his letter was meant for her. They begin a relationship and decide to keep the money. Wang then receives a call confirming that the real student Dominique has arrived after being robbed earlier. Outside, the student Dominique removes her mask—revealing she is Britney "The Snake"—and begins pursuing Adrienne and Newmar.
