As a fellow rotational player, I'm ok with switching households at the end of each semester but I'd like to be able to keep students enrolled and maintaining their scholarships while I play other households.
I understand having to move out if you aren't continuing but there should be a recognition that the player may be playing rotationally and so may just want to keep a household "in school" to come back to later. That would be more like how rotational play is in the rest of the game.
I'd also like to have a bunch of my own sims in different households peppered about and running into each other, only graduating when I finish playing them through the semesters. I hope that's something that they can patch in. I also like the ability to take breaks from university around the time of major holidays.
I'm not thrilled with the idea of "punishing" a sim by risking losing scholarship money just because I want to age up different sims in the same generation and to have some sims that I recognize at the university along with the new random students.