Creating a Form Action that will change the status of a Form once it is submitted can achieve this.
In the Web Portal go to Forms > Existing Templates > select the edit arrow for the Template > select the Actions tab > select + New Actions > in the action Type dropdown select Modify Form status.
Here, you can fill out the settings details for the Action, and the requirements that it must meet before submitting the form will change the status, as well as what status to set it to. Selecting + Add Condition will give you more options for requirements that the form must meet before the status will change.
Once this is done, select Save Actions. Any new forms created with this template will now take that saved Action into account.
Another way to have the form status change every time you submit it with new information, is to create a Workflow. Workflows and Form Actions can work together for seamless efficiency in pushing a form through status changes.