We need a Student Full Name field on the student's Contact Card. We need such a name value for our graduation announcements, diploma, and the name read aloud at graduation as well as on the transcript. Another name for this field could be "Student Official Name" if you prefer.

Initially, the value for this field would be built using a concatenation formula that we set up (i.e. <Prefix> <First> <Middle> <Last>, <Suffix>). Whenever a new student record is created, this field would be automatically populated using this formula.

The field would later be edited to whatever preference the parents choose. Ideally, we would include it as an editable field in the Profile relationship access settings, but if it's something that we have to manage, we could do that.