Year End activities for Education module

Is there a list of activities that needs to be done to manage students at the end of academic year.

The lower class students will be enrolled into next level classes. But what is the way to manage students in the higher most classes. They exit the institute, Do we have to disable them ? is there any tool to do it at one shot.

At the moment, it seems like it is just disabling them and you can fill the field for exit.

Once disable they will not appear anymore in the fields from doctype Program enrollment
or students groups.

But what other SIS do is that they create another program (call it alumni) and park the graduated student in that program. You can then also disable the student.