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The Beggar Student is based on Der Bettelstudent, the evergreen operetta by Carl Milloecker (previously filmed in 1936). Set in the 18th century, the story focuses in on the Countess Laura (Waltraut Haas), who has spurned the affections of wicked Colonel Ollendorf (Gustav Knath). Seeking revenge, the Colonel flimflams the Countess into marrying an impoverished student named Symon (Gerhard Riedmann). Little does he know that the beggar student is really of noble lineage (in this, he's three steps behind the audience). The Beggar Student is highlighted by the dancing of the Kessler Twins, a shapely duo then enjoying a vogue of popularity on American TV.