I've never had a schedule for my rotations. Once I get bored with a household, I just switch to a different one.
Currently, I have five Sims enrolled in university. One is staying at a Britechester dorm, two others (who are sisters and lived together with their father in San Myshuno) are staying at a Foxbury dorm. Then I have two other separate households who are attending from their apartments, one an aspiring actor who lives with their older sister, and the other a mother on a tight schedule.
Even though I don't have a schedule for myself, I'll at least make sure to finish the term before I leave, if I'm say, halfway through the week already or so. But if I'm not bored with them yet, I'll go ahead and play through another. I won't enter into any other households who would be in the middle of their terms, though, but typically by the time I leave one household, the others would be finished their terms anyway.
So far, I haven't experienced anything negative related to rotational play. I've noticed a lot of people who say they've returned to their household to find that they'd flunked or had been put on probation; that hasn't happened to me. So far, everyone has been passing with A+.
