It's the last day of the semester, and Greendale is having a formal dance for students who will transfer to four-year colleges. Britta has been nominated to be "transfer queen" and that confuses her. Troy wants to move in with Abed next semester, but Abed doesn't want him to.

Britta finds her therapy session with Professor Duncan less than helpful when he says that being the transfer queen would be a good experience for her. Chang comes in for his session and asks Duncan if he would help him cheat his way through college, but Duncan just laughs in his face.

Professor Slater approaches Jeff and explains that she broke up with him because their relationship was getting too serious and she was scared, but she wants to give it another try. Abed's dorm is having a keg party, and Troy hints again that he should move in with him. Jeff kind-of-almost-maybe tries to kiss Britta, and she and Professor Slater have a bitter exchange. Meanwhile, Pierce tries a beer bong and Shirley does her first keg stand.

There's a lot of drama at the dance: Annie confides to Jeff that she's decided to go with Vaughn to Delaware because she's never done anything impulsive in her life; Britta and Professor Slater fight over Jeff; Professor Duncan taunts Senor Chang; and Pierce offers to let Troy live with him.

Abed is trying to recreate the final scene of "Cheers" when Troy tells him that Pierce is letting him live with him in his mansion. Abed explains that if he and Troy lived together, they'd be "jumping the shark". Troy tells him about a "Happy Days" episode where a guy literally jumped over a shark and it was awesome.

Britta tells Shirley that she had sex with Jeff. A drunken Professor Duncan, while trying to hook up with Professor Slater, tells her the same thing. Britta takes Dean Pelton's microphone and confronts Jeff. She then tells him she loves him in front of the whole school.

Jeff is put on the spot to react to Britta's declaration of love and Slater's similar declaration moments later. Luckily, Professor Duncan and Senor Chang get in a fight that distracts everyone and allows Jeff to escape, where he meets Annie. She has decided not to go with Vaughn because she feels she really belongs at Greendale. Then she and Jeff make out. Oh, and Troy agrees to move in with Pierce.

Abed has created a video yearbook, but the only people in it are the study group, Star Burns, and Leonard.