My hometown, which is 5,000 population changed our name when I was in 5th grade. It was a vote of students from high school on down to at least middle school. Not sure if elementary students voted. We had a list of 5 names to vote from. Ironically, none of them won as there was apparently a write in campaign for another name that won out. I agree that it should be done by students. It is their school. Though I also agree alumni and others do have a stake in the university as well. I'm sure the process will be ironed out in the future.