Kelly suffers a miscarriage, and learns that she may not be able to have children. Donna worries about her finals; David adds to her stress by pressuring her to let him move in. Donna panics during a final and runs out of the classroom, costing her a chance to graduate. Professor Langely gives her a second chance by offering an oral final exam. Donna passes easily, and Professor Langely tells her that she has a future in the fashion industry. Rush refuses to give Steve a post-graduation job at one of his companies. Chancellor Arnold accepts a teaching job in France, and Steve fears that Clare will go with him. She decides to stay in Los Angeles and seek a future with Steve. Valerie angers Kelly by meeting with her father. Bill delivers the shocking news that Driscoll is no longer his employee; he has stolen all of Val's money. Kelly again pressures Brandon to evict Val, as she and Brandon plan to live together.

Brandon stops Valerie from killing herself and agrees to let her stay at the house. They arrive at the graduation ceremony in time for Brandon to receive an award. Kelly naturally believes that Val was faking her suicide attempt, and gives Brandon a hard time for going after her. Clare decides to move to Paris with her father, as she cannot imagine living a continent away from her only living family member. She asks Steve to come with her, but he turns her down. At the grad party, Brandon continually hassles Kelly to give her father another chance. She finally offers her forgiveness, only to learn that he is going to jail for embezzlement. Kelly decides to make a fresh start with Val. Steve and Valerie have a drunken fling during the party. Ryan develops a crush on Joy. Donna loses her virginity to David.