I just put 8 students through university, playing 2 households with 4 sims each. I played them 1 term at a time, not re-enrolling at the end of each term, just going back and enrolling each of the households on rotation.
The last term was tricky because they all were set to graduate on the same day, and I had a bug where they couldn’t attend the graduation ceremony and get their custom photo all at the same time. I also had trouble because half my students were in Foxbury, the others at UBrite and they both couldn’t go to the ceremony on the same day.
So I redid the last term and had each of them enroll 1 day apart. Each of them had their own graduation day and they all got their photo and degree.