Billy Madison is a nonworking, noneducated slacker who lives entirely off his dad. He spends his day drinking beer, reading girly magazines, and hanging out by the pool. When his father realizes that Billy is unfit to run the family business, Billy decides that he must go back to school and earn a real education. He figures it will be no problem going back to high school and learning over again, until he learns that his father bought Billys passing grades all the way back in elementary school. Thus, Billy must return to elementary school and pass each grade one at a time in a short time, or else he loses his place as heir to the company. In addition, Billy tries to win the hand of Veronica, a sexy school teacher who thinks her students are more mature than Billy.

Billy Owens is turning 11. Turns out this little rapscallion was born on the 11th day of the 11th month, at 11pm no less, so it ventures to reason he has some powers of the magical variety. Of course, he and his friends, a precocious know-it-all named Mandy, and his other pal, the not too bright Devon, will all go on some kind of mystical adventure. You see Billy Owens lives in one of the oldest towns in the East Coast, Spirit River. Billy, on his eleventh birthday, is about to discover an unusual item up for sale in a local second-hand shop, one thats likely going to save both himself and the entire town of Spirit River. Billy, in case you hadnt already figured it out from the opening paragraph, is going to discover that he s a boy wizard.