A film school is the center of a fresh spate of killings based on urban legends.

On a prom-night dare, a trio of high school friends chant an incantation, unleashing an evil spirit from the past with deadly consequences.

Urban Legend tells the story of a group of pretty college students at a remote New England university. The focus of the story is Natalie, a beautiful, academically-gifted student who has a dark secret in her past. Natalie and her friends are all enrolled in the Folklore class being taught by Professor Wexler. Wexler regales his class with urban legends, which include Pendleton's own urban legend about a Psych professor who murdered six students 25 years ago. When several students are found dead, Natalie is the first one to suspect there's a killer on campus, especially after she has ties to all of the victims. Soon enough, she finds that her friends are being picked off one by one, and that her own murder will be the killer's ultimate urban legend.