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Although she is the most dedicated and talented student in Madame Charlot's class at the National School of Dramatic Arts in Paris, Louise Mauban is constantly getting into trouble for falling asleep during her lessons. Some of the other girls in school try to befriend her and ask her to go out to parties with them, but Louise always refuses, claiming that she has other social engagements. Actually, at night Louise works at a factory to earn enough money to attend school and falls asleep in class because she is exhausted from hard work. One night, while on a slumming trip to help his actress friend, Gina Bertier, who wants to soak up color for a role as a poor working girl, the Marquis Andre D'Abbencourt comes to the factory where Louise works. Louise, who is attracted to Andre, begins to fantasize that they are lovers and enthralls her fellow students with exciting stories about their supposedly real romance. Nana, one of the students who is jealous of Louise's talent, is certain that she is lying, and to prove her point to the other girls she throws a party at the home of her rich lover, and invites both Andre and Louise. Nana and some of her catty friends are certain that Louise will be humiliated when Andre arrives and doesn't know the girl, but when a butler advises Andre that a Frenchman should not destroy a girl's romantic dreams, Andre kindly pretends that he is in love with Louise. Soon Andre really does fall in love with Louise and sets her up in her own swank apartment. Some time later, Andre begins to tire of Louise's constant devotion to the theater and her dramatic studies and she leaves him after learning that he has spent the night with someone else. One night, Gina, who is supposed to play the lead in Joan of Arc has a tantrum and refuses to play her part, and Louise is selected to go on in her place. She is a tremendous success in the role and is visited backstage by Andre who now recognizes the importance of her talent and wants her back. Despite her feelings for him, Louise sends him away because she realizes that her greatest love with always be the theater.