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While cleaning, June runs across an old family scrapbook and gathers the family together to reminisce about the past six years. The Cleavers remember scenes from previous episodes including: Beaver Gets 'Spelled, New Neighbors, My Brother's Girl, The Shave, Beaver Runs Away, Larry Hides Out, Teacher Comes to Dinner, and Wally's Election.
Beaver's school is having a clothing drive and who ever brings in the most clothes is awarded 1000 school points. June, Ward and Wally round up all the old clothes they can find and put them in a box and right next to the box are three good suits of Ward's that are to be cleaned and of course Beaver mistakes them as items for the clothing drive. This leaves Ward with the task of asking for the suits back.
Beaver has the chance to travel around the country for six weeks during the summer and he's all excited about it. However, he quickly realizes when he's gone Gilbert will go after the girl Beaver has a crush on, Mary Margaret. But he quickly realizes, there's more to life than Mary Margaret.
After graduation, an all-night party is set to begin, which has June and Ward very wary. They aren't sure if they should allow Wally to attend. Meanwhile, Wally's date for the party has the same problem. This leads her to invite Wally to meet her folks and put their worries to rest.
Wally and Eddie fall prey to Lumpy's practical joking after he plants cherry bombs under the hoods of Eddie's car and Wally's car. Both Eddie and Wally want to get him back but their plan goes awry when they destroy Lumpy's car after chaining it to a tree. All fingers point to Wally after Fred finds that the chain has Ward's name printed on it.
It's come down to the final week before junior high school graduation and Beaver is having a ball and even skips a class with Gilbert. However, Beaver becomes convinced he won't graduate after Gilbert and him take a peek at the diplomas on Mrs. Rayburn's desk and find Beaver's diploma to be missing.
Eddie is happy to break the news that he plans to spend his summer on a fishing boat in Alaska and this prompts Wally and Lumpy to think about signing up to do the same thing. However, they all get a dose of reality when they discover just what kind of conditions they would be living in.
A school dance has Beaver with a major dilemma. He has two girls who ask him to go with them. However, he has a little problem, he accepted the first invitation but now wants out of it when he's asked by the second girl. This leads him to take some of Eddie's poor advice.
Ward is given two tickets to a baseball game and is faced with an impossible decision. Should he take Wally or Beaver? Beaver lets him off the hook when he announces he has plans with Gilbert. However, when they fall through, Beaver changes his mind about the game and becomes convinced because he's the youngest he gets the short stick.
Beaver has been assigned to write a book report on The Three Musketeers. However he's waited right down to the wire to get reading and quickly realizes that he'll never get finished. So, he decides to watch the movie that's going to be on TV and write his book report based on the movie.
Eddie has been seeing one particular girl, Cindy Andrews and she wants to give Eddie a birthday gift, so she decides to knit a sweater. She uses Wally as a model and he begins spending so much time at Cindy's he arrouses the suspicions of Julie, Eddie, Lumpy, Beaver and his parents.
Wally has his mind pretty much made up about going to Ward's alma mater, State University and he's even considering joining Ward's old fraternity. However, both Eddie and Wally think twice when they hear from a college student that that's the worst fraternity on campus, but Ward has already sent out his letter of recommendation for both of them.
June and Ward are excited when they learn that Aunt Martha has made arrangements to send Beaver to a prep school in New England. However, Beaver quickly realizes he will miss his friends as they are all entering Mayfield High School next year. This puts Beaver in a delicate position, how to tell Aunt Martha he doesn't want to go without hurting her feelings.
June and Ward go away for a couple of days and leave Uncle Billy to stay with Wally and Beaver. Beaver quickly realizes Billy runs a much looser ship than Ward and June and feels as if he can get away with more things. However, he's soon in for a rude awakening when he helps Gilbert sneak into the movies.
Beaver is all set to go with Eddie and Wally to hook up a AM/FM car radio in Eddie's car but June stops him and insists he go to the grocery store to pick up the items he had promised. This leads Beaver to give June the cold shoulder treatment while playing up to Ward.
Wally is let down when he learns that he didn't get the sports scholarship from State University. However, he does learn that Lumpy did get one and this leads him to throw a party in Lumpy's honor. However, half way through the party, Fred calls with some unfortunate news for Lumpy, the scholarship is no longer available due to Lumpy's grades.
June and Ward have noticed the Wally has been spending quite a bit of his time at the movie theater but it's not to see the movies. He's been eyeing the pretty young lady who works in the box office. Thanks to Eddie, Wally works up enough courage to ask her out but quickly sees another side to the young lady that is a bit too mature for Wally's taste.
Beaver comes home with the news that he applied to appear on a local television show called Teen Forum and he has been accepted. Beaver gets out of classes for the taping and all his classmates are treated to being able to watch him on TV during class. However, what Beaver, his friends and family don't know is that the show tapes each episode a week in advance.
Beaver has gotten a job as a caddy and is quickly running around the golf course chasing balls. However, all innocence is broken when one of the guys, Beaver is caddying for cheats in order to win a bet. Soon, Beaver begins wrestling with his conscience over whether or not to tell anyone.
Eddie brags about getting a credit card to his high school friends. When Wally's battery dies on his car, Eddie comes to the rescue by getting him a brand new battery. Everything is fine until Mr. Haskell finds out that Eddie charged it on their charge account
Beaver seems to be on a selfish streak after backing out of a babysitting and later not wanting to do a simple favor for Wally. Ward gives Beaver a stern lecture and soon takes Ward's advice when a tramp comes to the door wanting some kindness. Howver, the tramp quickly takes advantage and helps himself to more than a glass of water.
Beaver and Gilbert go to a carnival and Beaver surprisingly wins a fourteen caret gold locket in one of the carnival games. Beaver thinks about giving it to June but thanks to Gilbert, Beaver decides to give it to a girl whom he has a crush on. However, soon it becomes apparant that this was a mistake when the girl's parents discover Beaver's gift.
The social event of the season, according to Fred Rutherford, is big party that a wealthy family is throwing and he rubs it in due to the fact that June and Ward didn't get an invitation. However, Wally and Eddie will be there after they get jobs parking the guest's cars. However, trouble ensues when Eddie parks Fred's car in a no parking spot and the car gets towed away by the city.
A friend has a car for sale and Wally is interested, however, Ward and June are, as usual, hesitant about the whole thing. Ward decides to give in to Wally and allow him to buy the used car, with the condition that he inspect it first. Ward quickly finds problems with the car and he helps Wally look elsewhere giving Wally tips on the process of used car shopping.
Wally's on-again off-again girlfriend, Julie Foster seems to have thrown him over for a new guy in school who just happens to have a mustache. Wally's ego is bruised when Eddie tells him that Julie thinks he's naive and immature. This is the last straw and Wally decides to grow a mustache, much to the dismay of his family.
Wally asks June and Ward if he could have a party and with some prodding, Wally finally gets their permission. June quickly begins the plans and Beaver gets a look at the guest list and quickly finds that he's not invited. For revenge, Beaver decides to sabotage Wally's party with a variety of gags that he bought at a magic shop.
Beaver has been given an assignment in which he must write a autobiography for class but isn't sure about his abilities at writing. So, he convinces a girl, who likes him, to write it for him. When she discovers that he is merely using her, she writes an outrageous life story and hands it in, causing embarrassment for Beaver when the teacher reads it in class.
During one of his football team's games, Beaver is sent in and scores the winning touchdown which results in a picture in the paper. Soon, Beaver finds himself swamped with attention and quickly lets it goes to his head. He begins acting like he's better than everyone and begins to alienate Gilbert, Whitey and Wally.
At school, Beaver gets into an argument with a girl who retaliates by making fun of Beaver's hair, calling him a sheepdog. Incredibly self-concious, Beaver goes out to the store and buys different hairsprays and gels to try to improve his hairdo. He doesn't get the reaction he was expecting when he tries his new hairdo out on his family.
June and Ward go away for the weekend and Wally asks to borrow Ward's new car to go to a dance. Although hesitant, Ward finally gives in and lets him take it. However, after the dance, Lumpy runs into some car trouble which results in Wally smashing the headlight on the car. Wally is now faced with having it repaired and paying for it himself and trying to find a way to break it gently to Ward.
Beaver wants to join a record club and asks Ward for the money to join. Fed up with Beaver constantly asking for money, Ward decides to put him on an allowance. However, Beaver is so thrilled with his records he disreguards the bills for them and quickly finds himself swamped with records, a rising bill and not enough allowance to pay for everything.
The news that Eddie has moved out of his parent's house and into an apartment of his own has June worried that Wally may be contemplating something similar. However, Wally gets a picture of just how "happy" Eddie is being on his own and it makes him think twice.
After coming home late on a school night, Ward and June punish him by not allowing him to go anywhere on school nights. Beaver feels the punishment is unfair and when Eddie suggests Beaver write to an advice column but is disappointed with the response.
Wally and Eddie get jobs at the Mayfield Dairy thanks to Ward pulling some strings. They soon unknowingly find themselves involved in a plot started by the foreman and his assistant who are secretly stealing the merchandise. When Ward learns of the plot, he warns Wally who in turn tries to warn Eddie, but Eddie doesn't buy it.
Wally's new girlfriend Carolyn can't go out to the movies on Saturday night because she has to watch her little sister Susan. Carolyn suggests that Beaver take Susan out to the movies and that they all double date. Not wanting to let Wally down, Beaver decides to go along, despite being nervous.
Beaver has his heart set on taking a swing at being a paper boy again but another kid beats him to it. This leads Beaver to think about using sabatoge to get the new paper boy fired. However, the boy may just do that himself when the service becomes terrible leading Beaver to confront him only to discover he is a she.
Now that Wally is 17, he feels it's about time that he get his drivers license. However, June and Ward are a bit apprehensive about the idea of Wally driving but Wally is persitant and finally gets his parents to agree to let him take a drivers class.
Beaver is scheduled to recieve a football award at a father son dinner being held in the school gym. While talking with his friends, Beaver learns that none of them are planning on wearing a jacket and a tie so when June and Ward insist that he wear one, he adamently refuses.
Wally has been constantly spending his time at Julie Foster's house and June suggests that he's old enough to take her out on a dinner date. Julie suggests a new expensive restaurant called The White Fox. However, during the meal Wally discovers that he forgot his wallet at home.
