Dan Patterson
The suggestion I provided was specifically for Concurrent Use licensing option for ArcGIS Pro. You can define the license manager, authorization type and licensing level upon install. If adding the lock registry key, ArcGIS Pro will start by using the concurrent licensing option without having to manually point to the license manager in the Configure License dialogue.
Is there is better licensing option that satisfy the criteria Tawny requested. Yes, the named user licensing option you described where core and extensions licenses were previously defined to specific accounts. Users only need to log in with their unique account. I assume you reset the accounts or at least the password after each quarter or semester as needed.