The Freshman's Finish (1931)

At one of those typical movie colleges where there are no classes, the co-eds are parading around in their bathing suits, while the freshmen and sophmores concentrate on higher things, like the motorboat race. So fierce is their rivalry that dean Jack Duffy decrees that the winner of the race and his classmates get to go to the dance, while the losers are barred. To prevent Carlyle Moore Jr. From winning, the sophmores force him to torment beat cop Vernon Dent and get thrown in jail. Will their perfidy prevail, and 30-year-old student Vera Steadman have to dance with a sophmore?