Objective: This research sought to understand the effects of testing positive, quarantining, and pass/fail policy use on college student GPAs across three semesters from Spring 2020 to Spring 2021. Participants: 644 students were followed across three semesters. Methods: Anonymized secondary data sets regarding student health behaviors, perceived stress, and satisfaction were combined with registrar data concerning demographic factors, COVID-19 infection, the need to quarantine, and converting grades to pass/fail (P/F). Results: The use of P/F was associated with inflated GPAs when offered during Spring and Fall 2020. Students opting to use P/F were more likely to be low-income and achieve a lower GPA in Spring 2021 when the P/F option was no longer offered. Testing positive and quarantining did not have a significant association with student GPA. Conclusions: The research challenges the value of providing students the ability to convert grades to P/F during the pandemic.