Isn’t this the same plot as the original “Revenge Of The Nerds”?

Plot details for the DUMB & DUMBER prequel, WHEN HARRY MET LLOYD.
Shooting is scheduled to begin November 16th on New Line’s sequel to the 1994 Jim Carrey comedy DUMB & DUMBER.
The plot is set in 1986 when both our favourite simple-minded characters are 17, and a current draft of the script follows the premise that in order to qualify for a half million dollar grant from the school board, the evil Principal Collins has cobbled together a Special Needs class from the high school’s social outcasts and enlists a teacher’s aid in keeping the classes students imbeciles.
Harry and Lloyd are two of the students as is a girl in a wheelchair, a girl with a mouthful of orthodontic machinery, a guy with really big ears and hearing aids, a guy who wears huge Coke bottle glasses and a French exchange student. They quietly band together with the help of a straight A student to rebel against Collins, and our duo end up going undercover as ‘normal’ students to get the evidence the need.
Coming Attractions indicates Christopher Walken is attached, most likely as Principal Collins.