There's nothing like an eviction notice to make a man resort to desperate measures. Charles Webb, author of the original novel that was made into The Graduate, was facing homelessness when he decided to sell his unfinished sequel to Random House, which plans to publish the novel next year. The book will revisit Ben Braddock and his now-wife Elaine ten years later, as they home school their two children in upstate New York. The sequel is appropriately titled Home School (unless Random House changes it to simply The Graduate II -- I wouldn't be surprised), and Mrs. Robinson is somehow featured in its story. Webb isn't sure whether or not a movie will be made since he doesn't know how the rights will be handled. Originally, he didn't receive a dime for the rights to The Graduate. His last novel, New Cardiff, was adapted into the film Hope Springs.
Obviously if there is a film, the cast of the original would not return (although it would be interesting to have Katherine Ross return as her character's mother), and the Mike Nichols film is such a classic that anybody cast in the iconic roles will spark controversy and protest. Then there's the matter of the soundtrack. Okay, that is easy -- a number of artists today are going for that Simon and Garfunkel sound. See the Garden Statesoundtrack for evidence. The thing I'm most worried about is that now we may get a sequel to Rumor Has It to explain its character's connection to Webb's follow-up.