Academic plan where one takes more than five years to complete a college degree.
"Yeah, so I'm on my 7th year here at State. I'm on the Van Wilder plan, like that guy from the National Lampoon movie."
Vanwilder plan - spending 7 or more years getting a 4 year degree in school
student 1: My parents are cutting me off brah brah
student 2: why?
student 1: Cause I'm on the VanWilder plan dude
student 2: HaHa nice, you've been in school the better part of a decade, why not stay in for another few years and become a doctor?
student 1: Nah F-it. Want to get high?
student 2: no doubt