From this article on a student’s plan to exceed spending limits imposed in running for student Senate at the University of Montana: “UM Legal Counsel David Aronofsky said that a recent U.S. Supreme Court decision upholds the legality of spending limits as long as they are within reason.” Of course, McConnell v. Federal Election Commission upheld contribution limits, not spending limits (though some see the seeds planted for the Court eventually upholding spending limits in McConnell‘s footnote 48).
I wonder if spending limits could be defended in school elections on grounds that school elections are somehow different, e.g., they serve mainly a pedagogical purpose. I would be interested in hearing from readers if there have been cases so suggesting (or suggesting other rationales for spending limits in student campaigns).
UPDATE: A number of people have written to say that spending limits in college elections are common. One reader suggested that there may have been litigation on this point involving U.C. Irvine. See also this post on experience at another U.C. school.