I've always known this song as 'Oh Lucky Jim'.
Kingsley Amis borrowed the title for his first novel,'Lucky Jim', in the fifties and the film version, starring Ian Carmichael, used the song as its theme and incidental music, sung by what sounds like a College Choir.
I have the film on DVD somewhere. I haven't watched/listened to it for ages but I'll dig it out and see if any additional words are discernible.
But all I can recall without actually watching the film is 'Oh Lucky Jim,, how I envy him' sung in various keys and various styles throughout.