Students obviously gave their information to the schools which allows the school to investigate.
Obviously the students have connected accounts to their school and it's enough to be able to be seen as a part of the representative student body for the school.
So yeah as a representative those students should be held accountable for being racists.
Seems like anytime a private individual says or does a racists thing in Canada they face being charged with a hate crime.  So why should a schools representative student's get to skip being held responsible for their actions.