My one line summary pretty much said it all for this movie. It is a pretty typical horror anthology, where college students sit around in their a**hole professor's house and tell "the scariest story they know". All of the stories were original (well, I've heard them as urban legends before, but I never saw them done in a movie before) but this doesn't mean they are enjoyable. In fact, after about 5 minutes into each of them you just want them to end and hope the next one is better.
The only really worthwhile things in the film are the special effects, including a creepy skeleton and a talking severed head, and the ending was, I have to admit, really rewarding, like something in a TWILIGHT ZONE episode. So if you find yourself watching this for whatever reason, just keep telling yourself to stick around, because the ending really pays off.