

When Eric realizes he is the only loser with no future in the group, he goes looking for a job, only to find he isn't very good at many things. Kelso and Fez look for an apartment for the two to live together in, and Jackie arranges a dinner party to celebrate her high school graduation.
A week after Eric and Donna's engagement was called off, they are both on good terms, but have to make big decisions regarding their futures. Donna gets a new look, and Eric decides to take a year off, but to do that he needs to sell Donna's engagement ring to get some money. There's only one problem with his plan: Donna threw it off the water tower. Also, Bob is torn between Pam and Midge, and Red puts pressure on him (only because Kitty pressured Red) to choose between them. However, one of them takes the decision out of Bob's hands.