The creator of this nice fansite (check it out) sums it up thusly:
If you're a member of Generation X, you probably can relate to the 70's movie Over the Edge. This film was and still is one of the most accurate portrayals of teenage life in 1970's suburban America. In fact, the late Kurt Cobain, who related his own life to that of the character Claude Zachary, commented that "Over the Edge pretty much defined my whole personality. It was really cool. Total anarchy."
This is the film's trailer, which gives a taste of what is now its unbelievably classic soundtrack (to this day, I still think of Over the Edge whenever I hear Cheap Trick):
This is the exact same educational film the kids are shown early on in the movie, called "Destruction: Fun or Dumb?". Watch it for at least the theme music: