Oxford Blues is the story of Nick Di Angelo (Lowe) who is working in a Las Vegas casino to earn enough money to pursue the woman of his dreams Lady Victoria Wingate (Pays) to Oxford where, he believes, the only way to win her is to get into Oxford University and join the rowing team. After spending the night with a beautiful woman, he gets enough money to make the trip across the pond and arrives at Oxford with his small sporty car which promptly gets stuck between two walls in a very narrow street. And so begin the troubles of an American in Britain. Di Angelo is accepted into Oriel College, Oxford, and consequently large parts of the film are set in the college itself.
To help him along, the coxswain of the rowing team that Di Angelo joins is also an American, Rona (Sheedy). Di Angelo quickly finds Lady Victoria but also finds that she is deeply involved with another Oxford rower Colin Gilchrist Fisher (Sands).
Nick comes to learn not only the value of friendship, and love, but also the importance of keeping promises to teammates and to oneself as well as the importance of thinking beyond oneself.