Separation
They broke up a month before graduation. It wasn't because of a fight or anything like that, they just decide they didn't want to do the long distance relationship thing. They had gotten their assignments for when they became full time hunters and they would be separated by hundreds of miles.
Jaune and Velvet were friends before they had started dating so it wasn't that hard to settle back into that role. After graduation they still kept in touch, telling each other about everything that happened to them. When Jaune was hurt during a mission Velvet took a week off to look after him and when Velvet had to go on a mission near where he was stationed Jaune immediately volunteered to help her team.
It wasn't just work related. They would tell each other everything about their social lives. Velvet would tell Jaune about the amazing museum just ten minutes away from her home, and Jaune told her about the great park he would go to on his days off. They exchanged stories about places they visited and interesting things that happened in their respective cities, like a parade Velvet and her team became a part of ,and Jaune told her about how Nora almost blew him and his team to kingdom come when she was out in charge of the fireworks for his cities [insert RWBY version of 4th of July here] celebration.
They had become best friends again, but It was obvious to them both that they missed being with each other. Velvet admitted to herself she felt a pang a jealousy when she heard that Jaune started dating again(the little tramp was begging to be punched in the face), and she noticed that Jaune tended to recall their time together whenever that talked about Beacon. Velvet knew that she still liked Jaune that way, which is why she was over joyed when they ended up working together.
Velvet had gotten a job offer from professor Ozpin to be Beacon's history teacher now that Oobleck had retired. She told Jaune as soon as she could, only to find out that he had been offered a job as well, him to teach battle tactics. They both accepted the jobs and Velvet loved it. She enjoyed teaching and loved being called Professor Scarlitina by her students, she also enjoyed being near Jaune again. Not to say they stared back where they left off, but they started to be together more and more. Then one day they realized that they loved each other again.
Years later Velvet had to admit that Professor Arc sounded just as good as Professor Scarlitina.
A.N. When I asked for suggestions earlier I was serious. I am suffering from serious writers block. I barely managed to bang this out.