One person’s political correctness is another person’s marketing strategy. As a Nike stockholder for many years, I support any strategy that accomplished my goals for Nike: make my shares more valuable. Anyone who looks for political guidance from an athletic shoe company is a dope anyway.
Are we just talking "Mike" instead of "Michael" here or some more extreme? What if the student's chosen name is "Stupid McDumbF*ck" or "Hitler's Little Buddy"?