Good afternoon @rebeccaslowik!
While unlinking students from a class will remove them from the roster, doing so should not remove student data from the class. Teachers can reveal removed students and see that all the data for those students are still there. The following articles may be helpful resources with regard to viewing student data for students that have been removed from a class:
Additionally, with the end of the semester approaching teachers also are beginning to prepare for term transition. This article may be helpful for that process as well:
Should you have any questions we would be happy to address those as well. We would also like to encourage the Community to respond with any additional feedback or questions!