Arling, Henderson, and Waters (Wil Wheaton, Jason London, and Keith Coogan) are three pledges of a fraternity on probation who are bullied into submission by sadistic pledge master Les Wilton (Kevin Dillon). As the final part of their initiation, the trio are challenged to get to the top floor of the Cougher House, an abandoned house rumored to be haunted by the ghost of a murderer with a hacking cough.

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