Probably not a bad policy, given the tendency of intoxicated college boys to discharge chemical fire extinguishers for fun.
The one day we had fire in the dorm. It was found while still small, and rapidly extinguished with fire extinguishers. The school administration, far from handing out kudos for quick action that saved the dorm, handed out bills to have the fire extinguisher's recharged. Because there was no exception to the "fine them for discharged fire extinguishers" policy, for fire extinguishers actually used on a fire.
As H.L. Menkin (I think) said: A foolish consistency is the hobgoblin of a small mind.
The students should invoice the school for the cost of dischage fee AND the cost of their time. I'd say $1000.00/second for hazard duty pay. Minimum fee for services 15 minutes. Let's see that 900 seconds so that is $900,000.
Given the cost of the dorm its a bargain!
I suggest that for 25% fee Free Republic would be the negotiator and the school could pay Jim a year's worth of Freeper time and effort! Win Win all around!
On a similar note. If there would have been an actual incident at the school where someone was shooting students, and this kid came up behind him and wrestled it away, he would still be expelled since he would then be in "purposeful possession" of a weapon.