I've just been playing through the one family right now while Dylan and Estelle, boyfriend and girlfriend, go through university. I'll probably keep playing them while they get established and then switch in the rotation.
I generally rotate based on events or completion of milestones rather than following a certain number of days per week. So, university adds another milestone to keep track of for those who will go through it.
I'll mostly play with aging off during university which increases the lifetime earning benefits of going. I think I will only send certain sims. I also very well might implement the prep school concept for the teens of certain elite sims in the game. (I think it's great and heartwarming for the parents to carefully raise their children and to stay close to them, but not everyone is like that.)
I like playing a lot of different sims. Anyway, the rotation is still going. It's still doable with university but requires more thought and planning, rather like real university.
I was able to successfully enroll multiple sims together. To do that, you basically want them all to be ready to go to university on the exact same day and time. You need to admit them one at a time but you can go back into Manage Households and continue admitting students to the same university and residence hall or living arrangement in order to merge them. I did this with them enrolling one right after another within about an hour of each other and it was smooth.
You do have to think about how many sims you actually want to manage through university at the same time.
