>>279765400
>What do the older horsegirls even do then? When do they graduate? What’s the point of the school in the first place if they’re already ready for races from the first day they get there?
Dunno about the game, but in S3 it gets explained as moving to the "Dream Trophy League" which I assume is for expired hags past their prime. So technically they still race and they still need the academy for training, but it's like Senior Olympics or something so people don't care that much about it. It seems like it comes with an ominous letter too.