Former All-American Rusty Stevens (George Murphy) has been hired as the new football coach for dilapidated State University. He has barely arrived when he learns that Governor Gabby Harrigan (John Barrymore), who is running for U.S. Senate, has eliminated funding for the school's football team as a "balance the budget" campaign ploy. Coach Rusty and the students march on the state capitol and cause a ruckus. Harrigan's senate challenger, Major Breckenridge (George Barbier), plots a campaign volley around the incident, so Harrigan beats him to the punch by announcing that he will make State University the most well funded school in the country. He strong-arms the legislature into passing the funding, including a football stadium that will hold 100,000 fans. Then, faced with the embarrassment of an empty stadium, he coerces out-of-state businesses with government contracts to pressure their states' most prestigious football teams to play State. Now, faced with playing the best football teams in the country with a novice team, Harrigan's administration finds a way to put professional athletes on the state payroll and have them play as ringers on the State U team. Somehow, after this seemingly endless stream of corruption and fraud, Harrigan is seen as a hero and wins the Senate seat because State wins the final game.
Joan Davis plays a female place kicker, so she is probably the titular co-ed. Other familiar faces: Jack Haley, Marjorie Weaver, Donald Meek and Paul Hurst.