The film is set at a New York high school for the performing arts and tells multiple, interlocking stories of the dance, theater and music students who attend. The film is broken up into five sections: Auditions, Freshman Year, Sophomore Year, Junior Year, and Senior Year and takes the main characters right up to graduation.
We meet Ralph (BARRY MILLER), a young Puerto Rican man with loads of personality who first wants to become an actor, then finds his niche as a standup comic. Doris (MAUREEN TEEFY) is a deeply shy performer who dreams of a career on the stage if she can overcome her own self-doubts and overbearing mother. Montgomery (PAUL McCRANE) is the young gay actor who befriends her, despite having personality issues of his own.
Among the dancers, Leroy (GENE ANTHONY RAY) stands out as a prodigy with tremendous raw talent, but is angry from his years on the mean streets of Harlem. Coco (IRENE CARA) befriends him and nurses a not-so-secret attraction that brings her into conflict with Hilary (ANTONIA FRANCESCHI), a white dancer who becomes sexually involved with Leroy possibly as a way to get back at her recently re-married, rich father. They are friends with Lisa (LAURA DEAN), a dance student who can't seem to pick up the steps or find her passion and falls into temporary despair.
On the music side, Bruno (LEE CURRERI) is a stubborn prodigy who wants only to write, record and play his own music with no other help except Coco, who can also sing. This brings him into conflict with his primary teacher, Mr. Shorofsky (ALBERT HAGUE) and his well-meaning, but equally stubborn father (EDDIE BARTH).