"A College Racket" is an odd film in that it's about college students...and it was made during the worst years of the Depression! After all, most Americans were having a hard time making ends meet...and Hollywood generally ignored the economic unrest and showed mostly rich, successful folks...such as in this film. Amazingly, such college films were actually pretty common during this time.
A group of students have stupidly been frequenting a local speakeasy...and have been running up quite the tab gambling and drinking. If the dean of the college finds out about their many IOUs, the students are sure to be expelled. So, Glenn (Glenn Tryon) tries to help out...and is assumed by the owner of the club (Vernon Dent) to be an enforcer come to muscle in on his business! Where this all goes next, you'll have to find out for yourself.
Although Glenn Tryon starred in quite a few comedy shorts during the silent and early talking picture era, his career as a comic was relatively short lived and he's mostly forgotten today. In contrast, Vernon Dent had a very long career playing foils for all sorts of comics...such as the Three Stooges, Charley Chase and many others. So, it's not surprising that Dent is much better in the film than the relatively bland Tryon.
So is the film any good? Well, portions are very good...especially when they think Tryon is a criminal. Overall, a decent comedy but also one that didn't do much to help Tryon's flagging career.