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I just went through getting 5th year status. Everyone is right, you do not have to go 5th year. It is for people that have too much going on in school and such. When you go 5th year you do not pay dues and you are not required to attend any events. The down side of this is that you can only come to events if you are formally invited by the alumni liason. I guess this is to cut down on people that go 5th year just to get out of paying dues. Pretty much 5th year is like being a graduated alum except you are still in school.
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