Effects on students of changing from the term to the semester academic calendar at Central Missouri State University (CMSU) were studied. Attention was directed to changes in average student credit hours generated, course load, grades earned, and classes dropped per students. Undergraduate and graduate students were evaluated 2 years before and 2 years after the calendar change. Term systems are based on three 10-12 week terms per year, while semester systems are based on two 15-18 week semesters. Under the term system, undergraduate students at CMSU were classified as full-time if they carried at least eight credits per term; graduate students needed six credits per term. Under semester system, undergraduates must take 12 credits per semester to be classified as full-time; graduates students need nine credits. Reductions were found in the student credit hours generated, average credit hour loads, and the proportion of full-time to part-time students. The undergraduate divisions saw decreases in the proportion of "A" to "C" grades awarded, with a corresponding increase in the proportion of "D" and "F" grades and withdrawals. There was an overall negative impact on student progress observed the first year after the calendar change; however, in most instances, improvements were seen the second year under the semester system. (SW)