Accepted (2006)

High schooler Bartleby Gaines (B to his friends) is on his way to scoring a perfect eight out of eight college rejection letters - which isn't going to go over big with his parents. At least he's not alone - several of his posse of oddball friends are in the same "college-less" boat. What's a guy to do, when he's facing down a lifetime career as a convenience store clerk? Create his own college, of course. B convinces another friend's uncle to pose as the dean and organises a clean-up/building party at a local abandoned mental hospital... and South Harmon Institute of Technology is born.

Official website: http://www.acceptedmovie.com/index1.html