The other solutions do a pretty good job, but I'd like to address a couple common questions/problems people have with this level
1) The game automatically disables Stud Multipliers, so you'll actually have to collect nearly all of the studs within the level
2) It's probably easiest if you have a bazooka trooper in your party. I found this was the best character for destroying objects in a time-efficient manner
3) If you're coming up short on studs, and you think you've solved all of the puzzles, check the balcony in the northwest corner (the one you need a female character to access). In this room there are some glass panels that you need to break. You can either shatter them with Willie's scream, or blow them up.