"ST~ M" is a Real Thing

I definitely thought it was just some weird goof, the whole "ST~ M" which the college's facebook page has been using for the past months, and that literally has "1" like.

But NAW, apparently it's real. They even sell mugs with it.

This is a real product the Campus Store sells.

I can totally get the rationale behind this change. There are a ton of "St. Mary's" around the world, so it's important to rebrand as something different. But you cannot just create "ST~M" and not explain it. Where is the press release, or rationale behind the new branding? I'm just lost.