At Chubbie's, Cory hands everyone their letters from Pennbrook College, which he stole from their mailboxes. Everyone gets in except Shawn, who is waitlisted. Cory is dissapointed because he wanted everyone to go to college together. He makes it his personaly duty to convince other students not to go to Pennbrook, so Shawn can be moved off the waitlist.
Shawn's doesn't seem too upset, though. He has a job as a photographers assistant and he really likes it. Unlike college, it's a sure thing. "I'm smart to consider other options."
Later, Shawn is offered a permanent position at the photography studio, but he's also recieved a new letter from Pennbrook. He is accepted, to Cory's delight, but says he's going to take the job, to Cory's chagrin. Cory is so angry with Shawn that he doesn't hear Topanga when she discusses her being waitlisted at Yale.
Cory enlists Jack to talk some sense into Shawn; but when they arrive at the studio, Jack is seduced into being a model for the photographer. As Cory mulls over the recent events, Topanga informs him of her acceptance into Yale.
Everything is changing, and Cory can't cope. When he discusses his problems with Mr. Feeny, Feeny informs him that he's decided to retire and move to Jackson Hole, Wyoming.
He takes Morgan, the only person he can count on, to Chubbie's, the only place he can count on. However, Chubbie's is being turned into a "Pegleg Pete's". He sits in the booth for hours, sulking.
Worried about her brother, Morgan gets Eric, who helps Cory understand that he can't stop change. Cory realizes he should be happy for all the good things that are happening to his friends, and calms down. He gives Shawn his support and tells Topanga that even if Yale was on the other side of the moon, they'd still be together.